Anshan Steel Group has received approval from China's state asset reg-ulator to merge with Panzhihua Steel, paving the way to forge the biggest steel maker in China. Shares of the listed units, Angang Steel Co and PZH Steel, were suspended from trading on Monday, fuelling expectations a long-rumoured merger of the two groups would soon be announced. Beijing has been actively pushing for consolidation in its fragmented steel sector, aiming to create three to five majors with greater competitiveness, although several deals have stalled due to opposition from local governments.
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