Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

China’s Anyang Municipal government in Henan province has completed integration of 11 steel plants into 4 companies, according to government agency China Metallurgical News. Names of four companies were not revealed. Local government had given the proposal for the merger in 2018 and the integration process has been completed, but the transformation of equipment of iron and steel plants will be completed by 2025.


China Iron and Steel Association has urged companies to focus on integration and mergers of steel plants to fight the impacts of COVID19. At present there are 11 iron and steel smelting plants in Anyang city, namely Angang, Shagang, Yongxing, Fengbao, Yaxin, Xinpu, Huixin, Bosheng, Xinyuan, Lingang and Boxin. These iron and steel enterprises have a decentralised layout, with less efficient equipment, short industrial chain, low proportion of high-quality products and high emissions. By 2025 advanced blast furnaces, electric furnaces and converters will be installed and these plants will achieve low emission standards. There will be an advance steel base in Henan province and with an income of around CNY 200bn. 


TISCO mergers subsidiaries 

Board of directors of Shanxi Taigang Stainless steel (TISCO) approved the merger of Guangdong TISCO stainless steel and Foshan Taigang stainless Steel. Both are subsidiaries of Shanxi TISCO located in the same geographical region. This merger will help streamline the organization and reduce management costs, decision of the merger was taken by directors. 

Leave a Reply

Your email address will not be published.