Commodities Buzz: Baoshan Iron And Steel Completes Output Of 80 Percent Of Share Buyback Program

Baoshan Iron and Steel Co (Baosteel), China's largest listed steel maker by output, has completed nearly 80 percent of the 5-billion yuan ($811 million) share buyback program it initiated in September 2012, the company announced Monday in its latest update on the matter. As of May 2, Baosteel had spent 3.85 billion yuan repurchasing 807 million of its own shares at prices ranging from 4.51 yuan to 5 yuan each, according to a filing the steel maker made to the Shanghai Stock Exchange Monday. Source by Commodity Insights