China’s Anyang Iron and Steel Group has signed a letter of intent with the country’s top steelmaker Jiangsu Shagang Group to conduct a mixed-ownership reform, in a bid to further consolidate the ferrous sector in the world’s top steel producer. The move comes as China calls for further concentration of the steel sector, aiming to consolidate 60-70% production in the hands of its top 10 steelmakers by 2025 from less than 40% now. Anyang Steel has an annual production capacity of 10 mn t pa.
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