OREANDA-NEWS.  August 16, 2012. Ansteel Group appears to have lost interest in merging with Lingyuan Steel since the Lingyuan city-based steelmaker suffered a loss of 299 million yuan in the first half of 2012 amid the overall depressed steel market.

Uncertainty also abounds on when a Phase II project envisaged by Lingyuan Steel can commence construction work.

Ansteel won over Shagang in 2007 as a preferred candidate to consolidate with Lingyuan Steel.