The Next China Default Could Be Days Away as Steel Firms Suffer
- Sinosteel may struggle to repay bonds if put option exercised
- Over half of steel issuers suffered losses in first half
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Another week, another Chinese debt guessing game.
This time it’s the steel industry’s turn, as investors wonder if a potential bond default by Sinosteel Co. is an omen of things to come amid slowing demand for the metal used in everything from cars to construction.