ArcelorMittal, the world's biggest steelmaker, is considering making an offer later this month for Italy's second largest steel producer Lucchini, according to Italian union CGIL FIOM.
Lucchini, formerly owned by Russia
ArcelorMittal, the world's top steelmaker, said it would use its Chinese joint venture to tap into the country's fast-growing car market, helping offset slackening steel demand on the back of a slowing economy.
ArcelorMittal, the world's largest steelmaker, trimmed its forecast for global steel demand due to a sharper Chinese slowdown and weakness in Russia, though it expressed optimism about its core European and US markets.
ArcelorMittal yesterday said that it cut its net loss by a quarter last year as it turned in surprisingly strong operating figures, saying steel-making was back on track.
The steel and mining giant also reported strong progress in
Steelmaker ArcelorMittal told unions on Monday it will permanently close two mothballed furnaces in northeastern France, enraging workers who blocked off access to the entire steel plant and management offices at the site.
ArcelorMittal, the world's largest steelmaker, and United States Steel Corp forecast a sector soft patch extending to the end of the year with weak shipments and a margin squeeze.
Analysts were expecting a slight improvement from a poor Ju
Luxembourg-based ArcelorMittal, the world's No. 1 steelmaker, has approached Egyptian Iron and Steel to forge a partnership, an Egyptian newspaper reported.
The tie-up would help Egyptian Iron and Steel raise EGP15 billion ($2.6 billio
ArcelorMittal South Africa, a unit of the world's biggest steelmaker, reached a stop-gap agreement to buy ore from Kumba Iron Ore over the next year at about half of recent market prices.
Shares of both companies rose sharply on Thursd
Production has been halted at ArcelorMittal's steel plant in Algeria after workers carried out their threat to launch an indefinite strike, a company spokesman said on Monday.
The trade union representing most of the 7,200 workers at the p
ArcelorMittal, the world's largest steelmaker, said on Monday it would raise prices for flat steel products in North America and Europe to reflect material and energy cost increases in 2008.
US prices were below prevailing global market le