Deals
China Eyes Steel Merger to Create Rival to ArcelorMittal
- Baosteel, Wuhan Steel combined would be China’s biggest
- Nation aims to reduce overcapacity, improve efficiency
ArcelorMittal steel mill complex in Cleveland, Ohio.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
China’s second- and sixth-largest steelmakers by output have entered restructuring talks, which analysts say could presage a merger that would create the nation’s biggest mill, and a company with the scale to rival the likes of ArcelorMittal SA.