China's top 10 steel mills controlled 34.2% of total capacity at end-2015

China's 10 largest steel mills controlled 34.2% of the country's total capacity at the end of last year, well below a 60% target set by the government, Tang Fuping, the chairman of Anshan Iron & Steel Group, said on Monday.

Beijing had required the top steel mills to reach the 60% target by the end of 2015 in its 12th five-year plan, Tang said. The largest 10 mills controlled 48.6% of total capacity at the end of 2010.

"Increasing concentration is one of the important conditions to ensure the sector's healthy development, and the state has tried to drive consolidation," Tang said. "For a variety of reasons it has struggled to meet the targets."