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New Chinese Merger Creates Third-Largest Steelmaker in the World
08/23/2021 - China’s Anshan Iron & Steel has officially acquired Benxi Iron & Steel, creating the third-largest steelmaker in the world and the second-largest in China, reports S&P Global Platts.
Anshan now boasts a combined crude steel output of 55.55 million metric tons per year.
Talks of a merger between the two companies had been on-again, off-again since 2005, but recent moves by Chinese government to encourage steel industry consolidation made the deal possible, Platts said.
Read more from Platts here.
