China's Baowu produces 96mn t of crude steel in 2019

China's central government-owned Baowu group produced 96mn t of crude steel in 2019 with 100mn t output "just around the corner".

Baowu, formed by the merger of Baosteel and Wuhan Iron and Steel in 2015, produced 67.43mn t of crude steel in 2018. In 2019, it acquired Maanshan Steel that had capacity of 20mn t/yr, while taking operational control of the 8.4mn t/yr Chongqing Steel. The process of taking over Chongqing Steel is expected to be completed by June 2020.

China's crude steel output is estimated to grow by 6.5pc at 988mn t in 2019, according to the state-run Metallurgical Planning and Research Institute. China's annual steel production data for 2019 will be officially announced on 17 January.

Baowu was the world's second largest crude steel producer in 2018, after Luxembourg-based ArcelorMittal that produced 92.5mn t.

source: Argus Media