Anhui Province-based Chinese steel producer Ma’anshan Iron and Steel (Masteel) has announced that its subsidiary Anhui Province-based Changjiang Iron and Steel Co., Ltd, will transfer 550,000 mt of iron-smelting capacity to its shareholder China Baowu Group’s subsidiary Baosteel Zhanjiang Iron and Steel Co., Ltd.
At the same time, Masteel will purchase 280,000 mt of steelmaking capacity from China Baowu Group’s subsidiary-Baosteel Special Steel Co., Ltd.