Maanshan Iron & Steel (or Masteel) is among China's largest steel producers. The company specializes in steel plates, section steel, wire rods, and train wheels. The company turns out 18 million tons of steel products annually, more than 90% of which is sold domestically. Its H-beams, plates, wheels, and wire rods are exported to nearly 50 countries. Masteel's plate and structural products are used by the automotive and construction industries primarily; it also makes wheels for locomotives. It operates five steel manufacturing facilities in China. Magang (Group) Holding Company controls the company. Masteel made plans in 2014 to buy the assets of Valdunes for $18 million.
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