Shanghai Baosteel Group Corporation, commonly referred to as Baosteel, is a state-owned iron and steel company headquartered in the Baosteel Tower in Pudong, Shanghai, China.Baosteel is the fourth-largest steel producer in the world measured by crude steel output (after ArcelorMittal), with an annual output of around 40 million tons (China's total steel production in 2012 was 716 million tons).