Maanshan Iron & Steel Company Limited is principally engaged in the manufacture and distribution of iron and steel products. The Company provides plates, including hot-rolled thin plats, cold-rolled thin plates, galvanized plates, color-painting plates and medium plates, which are applied in construction, automobiles, household electrical appliances, boilers, pressure containers and shipbuilding; steel sections, including H-shaped sections and ordinary medium-shaped sections, which are applied in construction, steel structure, machinery, oil drilling platforms and railways, among others; wires and rods, including high-speed wires and hot-rolled ribbed steel bars, which are applied in fasteners and construction, as well as wheels, including train wheels and wheel rims, which are applied in railway transportation, port machinery and petrochemical industries. The Company distributes its products in domestic and overseas markets.

Masteel is an extra large-sized iron and steel complex and an important steel product production base in China. It is under the management of Anhui provincial government and provincial State-owned Assets Supervision & Administration Commission. Its main business is Ferrous metal smelting and rolling processing, product marketing, iron and steel product extended processing, Minerals mining, construction, engineering, steel structure, equipment manufacturing, erection, technology consulting and labor services, etc. Maanshan Iron & Steel Co., Ltd. is focused in the business of iron and steel production. Up to the end of 2008, Masteel had reached a steel production capacity of 16 million ton with employees of 60,000 and total assets of RMB 76 billion.
Masteel was in the very beginning Maanshan Iron Plant founded in 1953. Maanshan Iron & Steel Company was founded in 1958. In 1993, after stock reform, Masteel regrouped and was divided into Magang Holding Company and Maanshan Iron & Steel Company Ltd. In 1998, Magang Holding Company changed its name into Magang (Group) Holding Company Limited. In its 50 years of development, Masteel made special contribution to China iron & steel industry. In China, the first train wheel & tyre production line, the first high-speed wire and rod mill, the first large-sized H-Beam production line and the first iron and steel company listed in stock market both in China and Hong Kong all came into being in Masteel.