Japan steel industry sees China merger promoting structural reform



China's Baosteel Group's acquisition of Wuhan Steel will create stronger leadership in the country's steel industry and promote structural reform, the chairman of the Japan Iron and Steel Federation said on Wednesday.
"We welcome the move as the higher concentration will help advance structural reform in the Chinese steel industry," Kosei Shindo, the chairman of the Japan Iron and Steel Federation, told a news conference.
China's Baosteel Group fleshed out its plans to buy rival Wuhan to create the world's second-largest steelmaker behind ArcelorMittal last week, part of Beijing's... read more

 
28 September 2016 in Business, Views: 36
Source: Reuters
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