Baowu Group may surpass ArcelorMittal as the largest steel producer

Chen Derong, chairman of the Chinese steel company Baowu, said in his New Year message that “China Baowu successfully reorganized the Maanshan Iron and Steel Group in 2019 to gain de facto control over Chongqing Iron and Steel. The group company will achieve 96 million tonnes of steel, and Baowu's cherished 100 million tonne target is not far off. ”

ArcelorMittal, the world's largest steel group, produced 92.5 million tonnes of steel in 2018