Magang / Maanshan Iron & Steel: Baowu ownership, products and the Ma Steel name

A guide to Magang / Maanshan Iron & Steel, its Baowu ownership, common market names and core product families.

Maanshan Iron & Steel Company Limited is commonly called Magang, Ma Steel, Masteel or Maanshan Steel. It is a distinct listed producer, despite being ultimately controlled by China Baowu.

Ownership

The direct controlling shareholder is Magang (Group) Holding Co., Ltd.; the ultimate controller is China Baowu. The 2025 annual report states Magang Group held 48.49% of the listed company.

Main product families

Magang's current product structure includes:

• special steel billet, bar and industrial wire rod;
• railway wheels, axles, wheelsets and ring forgings;
• structural sections and wire rod;
• hot-rolled, cold-rolled, galvanized, color-coated and electrical steel.

The 2025 report shows approximately 9.425 Mt long-product output, 9.787 Mt plate-product output and 0.247 Mt wheels/axles.

International supply and approvals

Magang exports sections and other steel and also uses Baowu-linked international sales channels. Product certification and customer approval remain specific to Magang and the relevant works; a Baosteel approval should not be assumed to cover Magang.

Procurement takeaway

Do not relabel Magang material as Baosteel simply because both are controlled by China Baowu.

What to reverify before an RFQ or PO

• exact legal manufacturer and works;
• current parent/ownership structure where relevant;
• current production range and size limits;
• ISO/API/class/CE/PED/FPC certificate scope and validity;
• current customer/EPC AVL/AML approval;
• seller/trading entity versus MTC issuer.

References and verification sources

• www1.hkexnews.hk