China's Baowu Steel Group Corp, the world's largest steelmaker, will continue with its merger strategy over the next few years, which cound result in a increase in its steelmaking capacity to 200 million tonnes per year, the China Iron & Steel Association (Cisa) reported recently.
The steelmaker's capacity exceeded 100 million tpy in September when it merged with Chongqing Iron & Steel Co, making it a bigger producer than ArcelorMittal.While the previous mergers have enriched Baowu's steel and iron ore businesses, the next merger will help Baowu perfect its logistics network with the global market and acquire more advanced equipment,...