Yixin Steel and Jiangyang Steel plan to merge

Luzhou Provincial Economic and Information Commission has announced that, in order to deepen supply-side reform and promote structural adjustment and transformation of the local steel industry, Sichuan Province-based Luzhou Yixin Iron and Steel Co. and Sichuan-based Jiangyang Iron and Steel Co. plan to merge, forming a new company called Xinyang Iron and Steel Company. Accordingly, the electric furnaces of Yixin Iron and Steel Co. and Jiangyang Iron and Steel Co., with annual capacities of 1.92 million mt of crude steel and 600,000 mt of crude steel respectively, will be torn down and replaced by two 100-ton electric furnaces, giving the new steel company an annual crude steel capacity of 2.0 million mt.