China’s Baowu Steel Group Corp, the world’s largest steelmaker, will continue with its merger strategy over the next few years, which cound result in a increase in its steelmaking capacity to 200 million tonnes per year, the China Iron & Steel Association (Cisa) reported recently. The steelmaker’s capacity exceeded 100 million tpy in September when it merged with Chongqing Iron & Steel Co, making it a bigger producer than ArcelorMittal. But Cisa says that “the mergers are far from reaching an end” since China will further consolidate its steel industry to increase its competitiveness in the global market.
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