China Baowu Steel Group Corp., Ltd., commonly known as Baowu, is a state-owned iron and steel company headquartered in the Baosteel Tower in Pudong, Shanghai, China. The company was formed by Baosteel absorbing it smaller state-owned peer, Wuhan Iron and Steel Corporation in 2016.. Baowu is the second largest steel producer in the world measured by crude steel output, with an annual output …