Merging Chinese Steel Giants Gain by Limit As Trade Resumes

  • Baoshan Steel will take over Wuhan Steel to create top mill
  • Shares surge 10 percent in Shanghai after 15-week stoppage

The listed units of Shanghai Baosteel Group Corp. and Wuhan Iron & Steel Group Corp. rose by their daily limit after resuming trade on Monday, playing catch-up with rival Chinese steelmakers that had rallied during their halt for merger talks.

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