On November 17, 1998, the former Baoshan Iron and Steel (Group) Corporation absorbed the Shanghai Metallurgical Holding Group Corporation (上海冶金控股集团公司) and the "Shanghai Meishan Group" (上海梅山集团公司) to form Shanghai Baosteel Group Corporation.
17. november 1998 overtog Baoshan Iron and Steel (Group) Corporation henholdsvis Shanghai Metallurgical Holding Group Corporation (上海冶金控股集团公司) og Shanghai Meishan Group Co. (上海梅山集团公司) og skabte Shanghai Baosteel Group Corporation.