China Acts to Raise Iron and Steel Industry Consolidation, Promote Joint Reorganisation of Iron and Steel Enterprises

According to China Iron and Steel Industry Association official Weibo news, on April 26, the CISA held an information conference for the first quarter of 2023 in Beijing to introduce the operation of the steel industry.

At the meeting, the CISA said China will vigorously promote joint reorganisation and increase industrial concentration is one of the key tasks of the industry in the near future.

The joint reorganisation of iron and steel enterprises is not only conducive to optimising the industrial layout, reducing homogeneous competition, and improving the bargaining power of upstream and downstream, but is also favourable for integrating the technology research and development system.

It is necessary to promote the establishment of a unified national market for the iron and steel industry, break up regional monopoly, and remove institutional barriers that hinder reorganisation.