EXCLUSIVE: Stemcor sold to China's Cedar Holdings for $150 million

Global steel trader Stemcor has been sold to China's Cedar Holdings for $150 million, a source with knowledge of the matter told Fastmarkets on Wednesday January 22.

"Once the transaction is completed, Stemcor's banking and finance facilities will increase considerably and its business will grow further," the source said.
Cedar Holdings is a privately-owned commodities business headquartered in Guangzhou, China.
Its Commodities Supply Chain Group was established in 2002 and has businesses in non-ferrous metals, ferrous metals, chemicals and energy segments.

Stemcor and Cedar Holdings will work to complete the transaction by the end of June...

Another 'Bubble Check' for the gold sector

Gold stocks continue to hit new highs

Some mining stocks exposed to Burkina Faso take major hit

Gold stocks again hit new highs

Gold stocks reach new highs on metal price gain