Industry News

Chinese Man Jumps Into Steel Furnace After Losing Money in the Stock Market

Views : 298
Update time : 2021-03-31 16:26:47

A steel factory worker in China jumped into a blast furnace and died after losing $9,100 in stock trading, his employer said.

The 33-year-old worker, Wang Long, had been working at the state-owned Baotou Steel in Inner Mongolia for more than a decade, before he went missing during his night shift on March 24. 

In surveillance footage posted on Chinese social media, Wang is shown throwing his helmet and gloves into the pot of molten metals and minerals before jumping into the pot himself. Temperatures inside the furnace can reach above 1,500 degrees Celsius (2,700 degrees Fahrenheit).

The worker’s death has prompted shock and grief on social media this week. In a Tuesday statement, Baotou Steel said Wang was a longtime stock and futures investor and his death might be related to his trade losses.

Wang lost more than 60,000 yuan ($9,100) from his investments on the day of his death, the company said. “It’s suspected that his suicide was related to the large amount of losses and that he could not repay his heavy debts,” the statement said.

Related News
Read More >>
Japan's blast furnace plants deeply affected by US auto tariffs and want to sell billets in Taiwan Japan's blast furnace plants deeply affected by US auto tariffs and want to sell billets in Taiwan
Apr .23.2025
Japan's blast furnace plants deeply affected by US auto tariffs and want to sell billets in Taiwan
Vietnam's Yongjin source surge in Taiwan stainless steel market triggers AD concerns Vietnam's Yongjin source surge in Taiwan stainless steel market triggers AD concerns
Apr .23.2025
Vietnam's Yongjin source surge in Taiwan stainless steel market triggers AD concerns
Azerbaijan’s aluminum & relevant products output grows in Q1 2025 Azerbaijan’s aluminum & relevant products output grows in Q1 2025
Apr .23.2025
Azerbaijan’s aluminum & relevant products output grows in Q1 2025
China’s unwrought aluminum alloy imports fall, exports grow in Mar m-o-m, y-o-y China’s unwrought aluminum alloy imports fall, exports grow in Mar m-o-m, y-o-y
Apr .23.2025
China’s unwrought aluminum alloy imports fall, exports grow in Mar m-o-m, y-o-y