DALIAN, China/TOKYO -- China's steel industry is undergoing a shakeout as the government pushes for mergers and production cuts in hopes of ending chronic oversupply. But problems are expected to linger because of slow progress in the drive to reduce excess capacity.
Business deals
China steel industry faces growing pressure to consolidate
World's No. 3 steelmaker to buy smaller rival to boost capacity
Ansteel Group Corporation, the world's third-largest steel maker, plans to acquire Lingyuan Iron and Steel Group as it looks to raise its capacity. (Photo by Shin Watanabe)
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