Magang (Group) Holding Co., Ltd. is an extra large-sized iron and steel complex in China which was founded in 1958. Presently Magangs steel production capacity amounts to 18 million ton and its total assets amount to more than RMB 90 billion. Magang steel production was 16.68 million ton and its total sale amounted to RMB 92.3 billion in 2011. Among the top 20 steel enterprises in the world, Magang (Group) ranks No. 19 as per SBB (Steel Business Briefing)