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China to consider creating two largest steel group

Foreign media quoted informed sources said, China plans to merge Baosteel and Wuhan Iron and China Hot Dipped Galvanized Steel Sheet Group, the South Iron and Steel Group to create; and plans to merge the River Steel Group and Shougang Group, founded Severstal Group. The plan has not been finalized, there may be variable.
Among them, Baosteel and Wuhan Iron and Steel Baosteel assets will be injected into the entity to become Southern Steel Southern Iron and Steel Group's stake in the company; non-steel assets of the two companies will be injected into the Wuhan Iron and Steel entities become Southern Steel Southern Steel Group Co. .

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