Baosteel runs with the big dogs in China's sizeable pack of steel makers. The state owned company ranks as China's third-largest steel manufacturer in a country that is both the world's leading steel producer and steel consumer. Its products are primarily carbon, stainless, and specialty steel, which it makes into billets, tubes, pipes, bars, and plates; the company also makes iron and tin products. Its markets include the appliance, auto, construction, oil, and shipbuilding industries, both in China and abroad. Baosteel produces about 44.5 million tons of steel annually. In 2016 its Baoshan Iron & Steel unit agreed to absorb Wuhan Iron and Steel via an equity swap.