Baoshan Steel Group and Wuhan Steel Group will be together
Recently, Baoshan Steel Group and Whuan Steel Group decided to take the first step for consolidation. If successful, they will become the world’s second largest steelmaker. This is also considered the starting point for Beijing’s plans to improve Chinese efficiency by pushing zombie companies out of operation.
Last year, the overcapacity of China’s steel left the global industry into crisis. And China’s government plan to improve the steel industry. That’s why the price of steel material is very unstable in 2016, such as steel pipe, steel strand, pc strand.