Chen Derong, chairman of Baowu Group, revealed in an interview that China’s Baowu crude steel production reached 115 million tons in 2020, and it is currently the world’s largest steel company. The company’s profit increased by 32% year-on-year, which means that the total profit of Baowu Group will reach 45.6 billion yuan in 2020. Chen Derong said that in the past few years, China has accounted for more than half of global steel production, but the largest steel company is not China, but ArcelorMittal. This is not commensurate with China’s position in the global steel industry, and China Steel industry concentration is not enough, there must be a corresponding several leading enterprises to lead.
Post time: Feb-22-2021
