The company was formed after the merger of Baosteel Group and Wuhan Iron and Steel Corporation, and was named Baowu Steel Group. Fixed assets are estimated at $ 106 billion. The group employs 228 thousand people who can ensure the production of about 60 million tons of steel.
This means that in the local market, the new company has displaced Hesteel from the first place, which was second only to ArcelorMittal in production. Ma Guoqiang, the former head of Wuhan Iron and Steel, became president of the new company. The first general meeting of the new company will be held this month.
China is trying to consolidate the industry. According to plans, by 2025, 60 percent of local production should come from the 10 largest companies. It currently accounts for less than 40 percent of steel.
China has eliminated some of its production capacity, but at the moment does not mean that there is a real decline in capacity. Over the past 5 years, plants with a total capacity of 90 million tons have been closed, and another 100 million are still awaiting closure, but new plants are still being created.
+38 (098) 875-40-48
|
|
|
Subscribe to news 
Metallurgy news
- Today
14:00 14:00 13:00 Alexey Mordashov that he delights in the new generation of businessmen 13:00 Zaporizhcox reduced coke production by 0.3% in six months 12:00 Export quotas for scrap. Can't they be executed or pardoned? 11:00 They had long been warned about this toxic South Coordinations, as well as in general the stock casino market 10:00 In the analytical center at the Ministry of Energy, I really need 10:00 "There's no money, but you're holding on"
Publications
02.07 How to choose furniture in the hallway: secrets of comfort and amenities at the very beginning of your home 30.06 The choice of summer rubber 01.07 Half -dimensional naivni pidlog: 01.07 Aerated concrete blocks from the company ceramic fest 29.06 Cast iron baths in the Sanok online store
