China's two major steel companies announced restructuring plans on Sunday, but no details were revealed. In their separate statements, Wuhan Iron and Steel (Group) Corp and Baosteel Group Corp said they were planning for "strategic restructuring" and trading of their shares would be suspended, starting on Monday. The final restructuring plans, however, were yet to be confirmed and endorsed by supervisory bodies, the statements said. Rumors about a possible merger between Baosteel Group and Wuhan Iron and Steel have been circulating for almost a year, but have not been confirmed.