China is seeking to create one or two steelmakers with annual capacity of 100 million metric tons by 2015 through encouraging industry consolidation, the China Business News reported, citing an official it didn’t identify.

The industry policy, a revision of the one announced earlier this year,
was drafted by the Ministry of Industry and Information Technology and
is now being reviewed by steelmakers, the report said. Rules related to
foreign trade were also added to the draft, which may be announced this
year, it said, without giving details.

The country’s ten biggest mills should account for 65 percent of
national capacity by 2015 and 75 percent by 2020, the report said.

Source: Bloomberg

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