Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

China’s Baowu Steel Group has acquired the 3mn mt Xinjian Ductile Iron Pipes Xinjiang Co for CNY2.2bn ($334mn). This is the company’s fourth acquisition in 2020 as part of Beijing’s plan to consolidate China’s steel industry. Xinjian Ductile is western China’s second-largest steel mill. 


Xinjian Ductile produces iron pipes for water and gas distribution with 97pc of net sales targeted for the domestic market and only 3pc sold internationally.

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