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Commodities

China's Baowu dethrones long-reigning steel king ArcelorMittal

Upset symbolizes Asian nation's missed opportunities to cut excess capacity

Baowu operates this steel mill in Guangdong Province, China.
AZUSA KAWAKAMI and NAOKI MATSUDA, Nikkei staff writers | China

TOKYO/SHANGHAI -- Although China is the world's leading steel producer, no single Chinese steelmaker has made it to the top spot, until now.

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