Steel News

The World’s Second-Largest Steelmaker Could Soon Become the Largest

6/4/2019 - Baowu Steel Group, the world’s second-largest steelmaker, is acquiring a majority stake in a smaller rival, a move that could propel Baowu to the No. 1 spot within the next few years.

According to S&P Global Platts, the deal between China’s Baowu and Maanshan Iron & Steel Group will take Baowu’s capacity from around 70 million metric tons annually to 90 million metric tons, putting it even closer to ArcelorMittal.

Platts has more here. You can find additional coverage here and here.