A potential merger between Anshan Iron & Steel Group and Benxi Iron & Steel Group is likely to make the new company one of the biggest steelmakers in the world, further cementing China’s dominance in the sector.
Benxi’s unit Bengang Steel Plates Co. announced the plans in an exchange filing, without providing further details. Discussions about a merger of the two companies have taken place since at least the early 2000s, though were never finalized. A revival of the talks comes amid a push to consolidate China’s mammoth 1-billion-tons a year steel sector to focus on bigger, higher-quality producers.
