The next big merger in iron and steel...
We came across a discussion recently [see http://english.caijing.com.cn/2008-02-25/100049400.html] of the development plans of
Merger of Shagang and Baosteel would create a Chinese steel giant with steel production of over 75 million tonnes. This volume of steel output would start to approach that of ArcelorMittal - the world’s largest steelmaker – who produced 97 million tonnes of steel in 2011.
So, could a Baosteel–Shagang merger be the next step in the consolidation of the global steel industry?