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Baoshan Steel Group and Wuhan Steel Group will be together

Baoshan Steel Group and Wuhan Steel Group will be together

Issue Time:2016-09-23

Recently, Baoshan Steel Group and Whuan Steel Group decided to take the first step for consolidation. If successful, they will become the worlds 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 Chinas steel left the global industry into crisis. And Chinas government plan to improve the steel industry. Thats why the price of steel material is very unstable in 2016, such as steel pipe, steel strand, pc strand.


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