Dry CargoGreater China
Chinese merger creates world’s third largest steel mill
Anshan Iron & Steel Group Corporation (Ansteel) is merging with Benxi Iron & Steel (Group) to create the world’s third largest steel mill .
The companies’ aggregate steel output, which reached 55m tons in 2020, will put the combined operation behind market leaders China’s Baowu group and ArcelorMittal, but ahead of Hebei Iron and Steel and the Shangang Group, according to data from Alphabulk.
Both mills are based in northeast China and are state-owned.