China opens gates to steel-sector reshuffle, with global ambitions

Emergence of potential world No. 1 rattles European and Japanese rivals

20190603N steel

A worker welds steel bars at a construction site for a new train station in Ningbo, Zhejiang Province. Chinese steelmakers are climbing up the value chain, manufacturing higher-grade products. © Reuters

NAOKI MATSUDA, Nikkei staff writer

SHANGHAI -- China has embarked on a new round of consolidation in the steel business.

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