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Baosteel-Wuhan merger unlikely to cut steel industry's overcapacity

Thursday, September 22, 2016 - 05:50
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Shanghai Baosteel Group (above) and Wuhan Iron & Steel Group have agreed to merge their listed units in a union that would would create a company with the scale to rival ArcelorMittal.

Shanghai

THE creation of a steel powerhouse may give China more clout abroad and is unlikely to address the overcapacity that's confounding the global market.

Shanghai Baosteel Group Corp and Wuhan Iron & Steel Group Corp have agreed to merge their listed units in a union that