Hebie Group become world\’s 5th largest producer of steel
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It is reported that two Chinese steel companies Tangshan Iron & Steel Group and Handan Iron & Steel Group combined recently to form the world’s fifth largest producer.
As per report, the new state owned company was called Hebei Iron and Steel Group Co and replaces Baosteel Group Co as China’s biggest steel company.
Mr Wang Yanjun a Tangsteel spokesman said that “The new group is officially set up and it would be based in the northern city of Shijiazhuang in Hebei province, which encircles Beijing.”
According to the Chinese financial press Tangsteel’s steel output last year was 22.75 million tonnes while that of Hansteel was 9 million. Their combined total would rank fifth worldwide after South Korea’s POSCO which produced 32.8 million tonnes.
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