What is the future of consolidation in China's steel industry?

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China has long sought to accelerate the integration of its steel industry, aiming to combat overcapacity, promote modernisation, and enhance its bargaining power when purchasing iron ore. China had previously set some quantitative goals for steel industry concentration, though these proved challenging and were never achieved. The “Guiding Opinions on Promoting High-Quality Development of the Steel Industry” is a blueprint for China’s steel sector’s development and structure within the 14th Five-Year Plan, as announced in 2022. This guidance encourages leading companies to carry out consolidations to build several world-class super-large steel enterprise groups, with a particular focus on efficiency as well as scale. We believe that industry consolidation will accelerate over the next five to ten years due to policy support, the contraction of Chinese steel demand, and overcapacity within the steel sector.

Table of contents

Tables and charts

This report includes 11 images and tables including:

  • The four stages of the Chinese steel industry: market concentration has fluctuated significantly over the past 20 years
  • Urbanisation rate vs apparent steel use (ASU) per capita in the US, Japan and China (1970-2021)
  • The process of capacity reduction will promote the consolidation of enterprises
  • Summary of significant policies for mergers and acquisitions in the steel industry from 2005 to present
  • The types of M&A cases in the steel industry
  • The proportion of all mergers and acquisitions led by SOEs exceeds 50%
  • After 2015, the ratio of M&As led by private enterprises reached 50%
  • Geographical distribution of the six major steel groups
  • The history of mergers and acquisitions of the Baowu Group
  • The history of mergers and acquisitions of the Jianlong Group
  • Comparison of M&A approaches between SOEs and non-SOEs

What's included

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    What Is The Future Of Consolidation In China's Steel Industry.xlsx

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    What is the future of consolidation in China's steel industry?

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