Restructure, Consolidation Of Chinese Steel Industry : Shandong Province

摘要

With the surging prices of ferrous raw materials including iron ore in the background, the government of China is accelerating restructure and consolidation of the steel industry. National Development and Reform Commission in the government of China has been successively giving approvals to such projects that involve restructure and/or consolidations of steel companies. As part of the policy, a new state-owned steel company, "Shandong Iron and Steel Group Co Ltd" was formed up in Shandong Province (the "Province") in March this year, in consequence of consolidation of stateowned steel companies. The following are the particulars based on information received from China.