New Steel Giant in China

June 30 – China’s largest steel maker came into being on Monday as two leading companies formally merged in the northern province of Hebei, which encircles Beijing.

“The group will produce 50 million tonnes of iron and steel annually by the end of 2009,” said Wang Yifang, board chairman of the new steel giant.

Hebei is the country’s largest steel and iron ore producer. In 2007, Tangshan Iron & Steel produced 22.75 million tonnes of iron and steel while Handan Iron & Steel had an output of 8.33 million tonnes.

China is the world’s largest steel producer and consumer.

Source: Shanghai Daily

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