The combination of double steel in Baoshan Steel Wugang will produce great benefits

Until the heat transfer of Baosteel and Wuhan Iron and steel merger rumors finally settled, Baosteel and WISCO were announced on the afternoon of June 26th, Wuhan Iron and Steel Group and Baosteel Group Co. is planning strategic restructuring, the restructuring plan has not yet been determined, determined after the program still need to obtain approval of the relevant authority.

The matter may involve a major reorganization of the company's assets. In view of the great uncertainty of the matter, in order to ensure fair information disclosure, safeguard investors' interests and avoid abnormal fluctuations in stock prices, Baoshan Iron and Steel Group and Wuhan Iron and Steel Co., Ltd. has been suspended since June 27th. During the suspension period, the company will determine the relevant plan as soon as possible, the progress of the announcement related matters in the five trading days after the.

It is reported that in 2015, Baosteel Group's crude steel output was 34 million 940 thousand tons, ranking second in China and fifth in the world, and the output of Wuhan Iron and steel group was 25 million 780 thousand tons, ranking sixth in China and ninth in the world. After the merger of Baoshan Iron and Steel Group, the output of 60 million 720 thousand tons, exceeding the Hebei iron and steel, ranked first in China and the second in the world.