The company and the US-based Steel Development Company signed a deal in September last year to jointly build a steel rebar project in the US market.
Total investment in the Mississippi steel rebar project is $168 million, with Anshan Steel taking a 14-percent share.
Anshan Iron also plans to acquire nickel and chromium resources through overseas mergers or purchases, as the company considers building a stainless steel and specialty steel business to further diversify, Zhang said.
Wang Min, Party chief of Northeast China's Liaoning province, where Anshan Steel is located, said the merger between Anshan Iron and Benxi Iron and Steel Group will make progress soon.