CISA names hubs of consolidations in China

CISA names hubs of consolidations in China

Beijing, which recently made consolidation of its steel industry a top priority, began to utter the names of the steel giants it would like to see take the lead in encouraging small steelmakers to join forces. Luo Bingsheng, vice chairman of the China Iron and Steel Association (CISA), said that the consolidations should be led by China's four largest steelmakers: Baoshan Iron and Steel Corp (Baosteel); Anshan Iron and Steel Corp; Wuhan Iron and Steel Corp; and Shougang Group. Mr. Bingsheng said that the country aims to increase the production capacities of each of these groups beyond 30 million tons per annum by 2010. The investments of these groups were mentioned in our China plans to reshape steel industry article on July 21.