中國鋼鐵業

China merger creates world’s No 2 steelmaker

Two Chinese steel groups have taken the first step in a long-awaited takeover to create the world’s second-largest steelmaker — a move that Beijing hopes will spark a wave of consolidation and improve efficiency in the bloated industry.

However, analysts said that the deal between Baoshan Iron and Steel

and Wuhan Iron & Steel

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