Xinjiang Ba Yi Iron and Steel Co., Ltd. known as Ba Yi Iron & Steel or 8 1 Iron & Steel or August 1 Iron & Steel or BYIS or Bagang or Basteel, is a Chinese steel maker based in Ürümqi, Xinjiang. The company was a second-tier subsidiary of China Baowu Steel Group, via Ba Yi Iron and Steel Group. The rest of the shares of the company float in Shanghai Stock Exchange. Xinjiang government is the minority shareholder of the holding company: Ba Yi Iron and Steel Group. Wikipedia