Steel News

New Chinese Merger Creates Third-Largest Steelmaker in the World

8/23/2021 - 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.