Chinese steel giant Baosteel Group will this year overtake Japan's Nippon Steel as the world's second largest steelmaker in terms of crude steel output, as reported by the Japanese media.
Nippon Steel is likely to post 24 million mt of crude steel output in 2009, with its total group output, including all subsidiaries, expected to be below 30 million mt for the year. Meanwhile, Baosteel achieved a crude steel output of 31.58 million mt of crude in the January-October period this year, already exceeding 30 million mt.