Arcontech Share Discussion Threads

[maywillow] 25/3/2004 11:33

BAYONNE, France (AFX) - Arcelor has agreed to sell its Acieries de
l'Atlantique (ADA) unit to Spain's Siderurgica Anon, according to Jean Bernard
Malo, director of ADA.
The sale of the ADA plant, at Bacou in the French Basque region, willbe
completed in a month at the latest, Malo told regional daily le Journal du Pays
Basque.
The two companies are currently finalizing the price for the deal. Malo said
no jobs are at risk
ADA employs 226 and produces 800,000 tonnes of steel ball-bearings annually.
Arcelor is currently finalizing a review of its businesses, due for
completion on April 8.
[e-mail]
mrg/jms

[maywillow] 25/3/2004 08:50

BRUSSELS (AFX) - Arcelor is to cut around 1,000 jobs in Luxembourg, Belgian
financial daily Le Soir reported, citing unnamed sources.
The newspaper said the company has made a study into its international
position. The results of this study will be revealed on April 8.
According to several sources, the company plans to make cutbacks at Wiltz,
Dudelange, Bissen and Bettembourg, wrote Le Soir.
It said 1,300 jobs will be affected by the cutbacks but 250 of these will be
saved by a Korean invester who is to take over TrefilArbed in Bettembourg.
ed/jkm/

[jjrpigeon] 24/3/2004 17:31

has this company gone on there hols no buys lately what the f..k is going on with this stock some buys would be nice to see just to give us some hope in them

[raitt] 23/3/2004 15:00

Nick,
Very much appreciated - now back to the books to brush up on my charting!
regards
John

[prinnytoo] 23/3/2004 07:59

A good weekend, and good company

regards Nick

[grupo guitarlumber] 22/3/2004 18:06

LONDON, March 22 (New Ratings) — Analysts at Ibersecurities issue a “buy” rating on Arcelor (LOR). The target price is set to €17.40.

[raitt] 21/3/2004 10:45

Prinnytoo,
Nick - great to meet you over the weekend - fun wasn't it?
Do split screens etc ring a bell? Would appreciate it.
regards
John

[raitt] 21/3/2004 10:40

Prinnytoo,
Nick, Great to meet you over the weekend. it was a fun do. Do split screens ring a bell?
regards
John

[waldron] 14/3/2004 19:35

(AFX) - MAN AG unit Ferrostaal AG said it has been assigned by a
consortium including Arcelor to carry out a feasibility study for the planned
construction of a steel slab mill in Brazil.
"Ferrostaal has a good chance to develop thewhole steel mill with a volume
of over 1.5 bln eur," said company board member Axel Wippermann.
In the first phase of production, the mill's output will be around 3.7 mln
tonnes of steel slabs per annum, increasing to 7 mln per annum in the second
phase, Ferrostaal said.
das/bam

[waldron] 13/3/2004 10:41

Scribbler101 - 12 Mar'04 - 18:21 - 18128 of 18129


A little weekend reading. EU boys conspiring with each other must be good?

Scribbler

Ce communiqué de presse a été lu 44 fois par les journalistes/visiteurs de ce site.

Press release 12.03.2004: EU Steel Technology Platform: a new dynamic for the European steel sector
!-- the line above is the banner; add text of press release below -->

EU Steel Technology Platform: a new dynamic for the European steel sector

Brussels, 12 March 2004

Today in Brussels European Research Commissioner Philippe Busquin and Guy Dollé, Chief Executive Officer (CEO) of Arcelor and President of EUROFER, jointly launched the European Steel Technology Platform. This high-level group gathers the main representatives of the European Steel industry. They have presented a document aimed at developing a strategic research agenda to provide a long-term vision and roadmap for the EU’s steel industry up to 2030. The platform brings together key European stakeholders and research institutes in the steel sector, including enterprises, research organisations of steel users, trade unions, universities and EU and national regulators. The platform’s aim is to help the sector meet the challenges of the global marketplace, changing supply and demand patterns, environmental objectives, and the streamlining of EU and national legislation and regulation in this field. In addition, with EU enlargement, the need for extensive restructuring of the steel industries is even more pressing. The Platform will help identify ways to boost research and innovation and to develop new and cleaner processing methods such as reducing CO2 emissions. It will foster links between industry and academia to develop qualifications and skills necessary in this fast-moving sector. It will also advise on how best to fine-tune and co-ordinate available instruments and resources - including EU programmes – to make the most of access to capital, scientific excellence and technological know how.

“Steel represents a key sector for Europe,” said European Research Commissioner Philippe Busquin. “During the last few decades the European steel industry has undergone extensive restructuring, but more efforts are needed. . “ Innovation saved European steel and turned the sector into a competitive global exporter. But more research and investment are necessary to remain competitive and face the challenges of globalisation and sustainable development. Thanks to a long track record of excellence in scientific co-operation, innovation and networking and the support of EU steel research, the sector is ready to face these challenges. Steel industry players participating in the Steel Technology Platform will join forces to define a vision to meet future challenges and create a true European research area in the steel sector.”

The members of the Steel Technology Platform include: Arcelor S.A., Acerinox S.A., Badische Stahlwerke GmBh, Böhler-Uddeholm, Celsa Group, Corus, Federacciai, ILVA S.p.A., Riva Acciaio S.p.A., ISPAT Europe Group S.A., Megasa, Outokumpu Oyj, Rautaruukki Oyj, Salzgitter AG Stahl und Technologie, Steel Institute VDEh, SSAB Swedish Steel, Thyssenkrupp Steel and Voestalpine AG.

Steel: key for European competitiveness

Steel is a key sector for Europe’s economy and competitiveness. The European steel industry is a world leader in the production of steel and at the forefront of modern production methods. The European steel industry has a real competitive advantage compared to its major trading partners thanks to its continuous research collaboration efforts, which have been partly undertaken in the framework of the European Coal and Steel Community (ECSC).

The European steel industry has a total annual production of about 160 million tonnes and generates a €90-€100 billion turnover each year. It provides direct employment for more than 250 000 European Union (EU) citizens, with several times this number employed in the steel processing, usage and recycling industries. Accordingly, the steel industry is also the origin of millions of other jobs in numerous industrial sectors. For instance, the European steelwork construction industry and automotive sector represent 1.1 million and 200 000 jobs respectively.

From crisis to leadership

Thirty years ago the European steel industry employed 774,000 workers. During the seventies and eighties, the sector was affected by severe crises and underwent radical restructuring. But during the nineties, new technologies and modern production processes were introduced, and the sector took off again. Privatisation and cross-border mergers also improved the industry’s competitive performance. From 1998 on, the European market has fully absorbed EU steel production, with the industry exporting its high-quality products world-wide.

The industry now aims to maintain its position as a world leader through the implementation of a sustainable development policy that will meet society’s needs and ensure its continued competitiveness. Over 40 years, the EU steel industry has reduced its CO2 emissions by 60% and energy consumption by 50%, but this CO2 level still represents 6% of total EU CO2 emissions.

Challenges ahead

The EU steel industry faces important challenges in the global market, such as competition with emerging countries, the necessity to respond to more demanding markets and the need to make a clear commitment to saving natural resources in line with environmental regulations, particularly in significantly reducing CO2 emissions. These challenges require determined long-term action by all industry stakeholders. In particular, environmental issues and the development of new steel solutions for many applications will necessitate the implementation of new production routes.

Enlargement around the corner

The steel industry plays a relatively bigger role in the ten new EU Member States, compared to the existing EU-15. In 2002, steel production in the accession countries amounted to 26.1 million tonnes, which is 16,5% of EU-15 production (158,6 million tonnes). New EU Member States are modernising their steel industries and participating in EU research projects in this field so as to catch up with their EU-15 partners.

A key role for EU research

Research is a key factor in ensuring that the steel industry maintains its global leadership in an increasingly competitive world while meeting society’s needs. An increased effort in the area of research and development is therefore crucial. The issues of work safety and availability of skilled and well trained workers must also be addressed in parallel with these activities. The €1.6 billion legacy of the European Coal and Steel Community, which produces the revenues of the “Research Fund for Coal and Steel” (RFCS), , provides financial support for research activities within the steel and coal sectors. Around 73% of RFCS funding goes to steel research. For the 2003-2004 period, more than €43 million per year will be earmarked for steel research, with 49 projects for 2003.

In 2004, the Commission sought to support co-ordinated projects (€20 million for the FP6 and €5 million for the RFCS in order to reduce CO2 and greenhouse gas emissions in steel production. On top of that, funding opportunities for research in the steel sector are available through the EU’s €20 billion 6th Framework Programme for Research (FP6, 2003-2006), which has several thematic priorities relevant for steel research including new materials, new production processes and energy. Both funding schemes converge to make steel production leaner, meaner and above all cleaner, with the overall priority of reducing CO2 emissions.

The steel technology platform: ambitious objectives for Europe

The March 2002 European Council in Barcelona called for the EU to boost its research spending so as to reach 3% of EU average GDP by 2010. The setting-up of pan-European public/private partnerships for technological research (technological platforms) will help increase research investment, and ensure that funding is used in a more efficient and consistent way.

This is why the European Commission and all steel industry stakeholders are jointly launching the European Steel Technology Platform. This new platform builds on successful research agendas launched over the past two years in a number of other key sectors, such as aeronautics (by the “Advisory Council on Aeronautics Research in Europe” or ACARE) and rail transport (by the “European Rail Research Advisory Council” or ERRAC).

All partners involved in the Steel Technology Platform have worked together to prepare a document identifying the strengths, weaknesses and challenges of this sector and to address the need for a clear strategic research agenda endorsed by all players.

The initiative paves the way for a strategic research agenda and has been co-signed by all steel industry representatives. It sets out the key challenges for the future and should lead to a long-term vision for the EU steel industry up to 2030, as well as providing a clear strategic research agenda. The key objective is to co-ordinate all instruments and available resources - including EU programmes – in order to achieve critical mass in terms of financial strength, scientific know how and technological excellence.

[waldron] 13/3/2004 09:58

Corus involved in breakthrough CO2 reduction technology


12.3.04


A consortium of nearly all European steelmakers including Corus, Arcelor and TKS together with around 40 other industrial organisations, research institutes and universities has put forward to the European Commission a EUR40million integrated project to develop 'breakthrough technologies' to substantially reduce CO2 emissions in steelmaking.

If accepted by the Commission the programme, known as ULCOS (Ultra Low CO2 Steelmaking), could receive up to 50% funding.

The research forms part of the 'European Steel Technology Platform' launched in Brussels today. Besides CO2 reduction, the Platform, within the EC's research framework, provides a vehicle for new process routes for products that will satisfy the constantly evolving needs of European consumers through to 2030. It also embraces training and promoting the image of steel.

The steel industry was challenged by the Commission to consider how carbon lean technologies could be applied to reduce CO2 emissions from an industry where the coal and coke-based blast furnace production route currently dominates, with some 60% of the 160million tonnes a year of steel production in Europe. Through efficiency measures, the industry has already made great progress, halving CO2 emissions per tonne of steel produced by the blast furnace route over the last 50 years, and is reaching its technological limits.

In the first phase, the ULCOS project will evaluate every reasonable proposal on CO2 emissions reduction using a standardised methodology. This concerns carbon-based technologies with or without subsequent sequestration, technologies that would require plentiful energy at an economic price or hydrogen, biomass etc. The most promising technologies should be sustainable and will then be studied in detail and tested on a pilot scale. Finally, full-scale demonstrations of appropriate technologies will be tested. The results of this work should redirect the investments in steelmaking in the post-Kyoto era.



ENDS

[arics] 11/3/2004 09:00

world trade down 40%. is this the same lot that arc recently done a deal with?

[grupo guitarlumber] 10/3/2004 17:01

LONDON, March 10 (New Ratings) – Analysts at Ibersecurities reiterate their "buy" rating on Arcelor (LOR). The target price has been raised to €17.4.

[grupo guitarlumber] 04/3/2004 17:12

(AFX-Focus) 2004-03-03 18:33 GMT:
Arcelor outlook raised to stable, short-term rating raised to A-2 - S&P

Article layout: raw
LONDON (AFX) - Standard & Poor's Ratings Services said it has raised its outlook on Arcelor SA to stable from negative, and also upgraded the short-term ratings on the company to 'A-2' from 'A-3'.

The long-term corporate credit ratings were affirmed at 'BBB'.

"The rating actions reflect the group's success in, and continued commitment to, debt reduction and profitability improvements," said Corporate Finance credit analyst Olivier Beroud.

The ratings agency said the stable outlook reflects Arcelor's significant debt reduction in 2003. The company is expected to continue this policy this year.

"With brighter prospects expected for 2004 on the back of strong Chinese demand and signs of a global recovery, Arcelor should be able to continue to reduce debt, close down inefficient production sites, and focus on higher value-added steel grades," said Beroud.

However, he added that the long-term prospects for Western European steel manufacturers "remain challenging", in the face of stiff competition from cheaper producers in developing countries.

cml

[prinnytoo] 02/3/2004 09:04

In the magazine, arrived this morning.

[saddam bin laden] 02/3/2004 08:56

Prinny - would you provide the link - thanks

SBL

[prinnytoo] 02/3/2004 08:48

Nice little report in Growth Company Investor this morning. Seymour Pierce expects a loss of £645k to swing to a profit of £225k for 2005, giving earnings of 0.11p.

[peea01] 01/3/2004 21:30

What has this thread got to do with ARC risk management??

[grupo guitarlumber] 01/3/2004 16:10

BEIJING (AFX-ASIA) - Anglo-Australian mining group BHP Billiton dismissed
fears of overheating and overcapacity in China's booming steel industry, saying
it is confident its 9 bln usd iron ore joint venture with four Chinese
steelmakers is a safe long term bet.
"We are quite confident that the off-take volumes that are involved here
will be secure in the long term," Graeme Hunt, president of BHP's iron ore
operations in Western Australia told reporters at a news conference to announce
the deal.
"In fact the tonnage we will be selling will be a core part of the usage of
the mills represented here ... all of which have expansion positions. With
respect to this joint venture it is a very secure position."
Hunt said pricing arrangements for the joint venture deal will be determined
by global markets on a yearly basis.
Earlier today, BHP announced it had won a deal to supply 12 mln tons of iron
ore a year over the next 25 years to four state-owned steel groups -Wuhan Iron
& Steel, Maanshan Iron & Steel Co Ltd, Jiangsu Shagang Group and Tangshan Iron &
Steel Group.
The four companies will also buy into BHP's Jimblebar mine, near Newman in
Western Australia, each taking a 10 pct stake in the mine, with BHP retaining a
51 pct stake.
BHP's deal comes amid growing concern within the Chinese government about
excessive investment in the steel, aluminium and cement industries.
Investment in the steel industry alone rose 87 pct to 132.9 bln yuan last
year and many of the country's big steelmakers are either already building or
planning to build significant increases in capacity to feed soaring demand
brought about by the booming economy.
Steel output rose 22.4 pct to 222.3 mln tons last year, while output of
steel products rose 24.3 pct to 241.9 mln tons.
The China Iron and Steel Association forecasts output will rise 16.9 pct to
277 mln tons this year, with output of steel products rising 14.8 pct to 277 mln
tons.
However, Liu Benren, president of Wuhan Iron & Steel (Group) Corp, one of
BHP's joint venture partners, told reporters today that while some areas might
be overheating, there is a shortage of production capacity for some key product
segments.
"TheChinese government has been concerned about over investment in the
steel industry and concerned about low quality investment.
"But as far as the steel industry is concerned in certain products we lack
production capacity so we should fuirher restructure the industry to rationalize
the mix."
He also tried to play down the significance of recent government directives
to cool investment by tightening up on bank lending and ordering local
governments to report expansion plans to the central government.
"That does not mean the government will impose a brake on steel industry.
The challenge over China's steel industry is to restructure so as to better
satisfy the market requirements."
His views were echoed by Luo Bingsheng, executive vice-chairman of the China
Iron and Steel Association (CISA), in today's official Business Weekly.
He said the supply of steel made in China will not exceed market demand this
year.
"The country's strong economic growth continues tolead to a construction
boom, and greater demand for steel," Luo said.
Although he admitted there has been "blind investment and irrational
expansion" in some regions and by some enterprises, he said that didn't mean the
overall industry was in an unhealthy state.
Qi Xiangdong, vice secretary general of CISA added, ".. 90 pct of the
increased fixed asset investment last year went to large scale steel enterprises
building modern production lines to produce technology-invensive and
high-value-added steel products.
"This is good and necessary for the industry's healthy growth."
Domestic companies are rushing to build new, modern plants to provide steel
for booming sectors such as vehicle manufacturing and domestic appliances.
Currently, few Chinese companies can provide steel of a good enough quality
for these uses and the country still relies heavily on imports in these
segments.
[e-mail]
amj/nma/tr

[grupo guitarlumber] 01/3/2004 15:58

Steel-hungry China taps BHP Billiton for 9 billion deal
Jason Gale and Rob Delaney Bloomberg News
MELBOURNE BHP Billiton, the world's biggest mining company, on Monday said it would sell $9 billion of iron ore under a 25-year contract to four Chinese steel makers, including Maanshan Iron Steel, as demand for the raw material soars.
.
BHP Billiton will supply 12 million metric tons of the ore annually under a joint venture with the Chinese steel makers, the company said. The other partners are Tangshan Iron Steel, Wuhan Iron Steel and Jiangsu Shagang Group.
.
The agreement expands BHP Billiton's iron ore sales in a market forecast to grow 21 percent this year. The company and rivals such as Rio Tinto Group are selling more minerals and metals to China, where demand for cars, homes and electronic appliances helped industrial production increase at a record monthly pace of 19 percent in January.
.
"Any long-term contract BHP can sign for volumes has got to be positive," said Gavin Van der Wath, an asset manager at Allianz Dresdner Asset Management in Sydney. "The China element" makes the agreement even more attractive, he said.
.
Shares of BHP Billiton, the world's third-biggest iron ore exporter, rose to the highest in almost two months. The stock advanced 1.4 percent to close at 12.43 Australian dollars, or $9.61.
.
BHP Billiton and other iron ore suppliers, such as Rio Tinto Group and Vale do Rio Doce, will receive record-high prices for the commodity in the year beginning April 1 after their main customers in Asia agreed to the biggest annual price jump in 24 years. The companies won a 19 percent increase in price.
.
The prices that the Chinese venture partners will pay for their iron ore will be based on market conditions, Graeme Hunt, president of BHP Billiton's Western Australian iron ore division, said in Beijing.
.
The agreement will help BHP Billiton at least maintain its 13 percent share of the imported iron ore market in China, Hunt said. The company shipped 19 million tons last year, compared with total imports of 148 million tons into China.
.
"The price will not be any higher than what's available elsewhere," said Tian Zhiping, general manager of Tangshan Iron.
.
Vale do Rio Doce, based in Brazil, agreed in December to increase shipments to Shanghai Baosteel Group under a 10-year contract that will raise its sales to Baosteel to 14 million tons a year from 2010 to 2016. The agreement is separate from a 20-year contract signed in 2001 to ship an annual 6 million tons of iron ore to Baosteel, China's largest steel maker.
.
China's imports of iron ore might rise 21 percent in 2004 to 180 million tons, according to Xu Aihua, an analyst at Antaike, a research affiliate of China Iron Steel Association. China consumed 36 percent of the world's steel production last year and its output may rise 17 percent in 2004.
.
That demand is leading BHP Billiton and the London-based Rio Tinto to spend more than $1.5 billion on mines, ports and railways in the Pilbara region of Western Australia state. Australia is the world's biggest iron ore exporter.
.
China is BHP Billiton's fastest-growing market, with total sales more than doubling to $630 million in the last quarter. The venture agreement will be the company's largest commercial accord with Chinese steel mills, BHP Billiton said.
.
"We expect the relationship between China and BHP Billiton will provide further opportunities for our other businesses, notably metallurgical coal and manganese," said the chief executive, Chip Goodyear.
.
BHP Billiton's carbon steel materials unit, which includes iron ore and coking coal, accounted for about 19 percent, or $238 million, of the company's total second-quarter earnings of $1.25 billion before interest and taxes
.
The deal will be formalized by June and will underpin BHP Billiton's plans to expand iron ore output in Pilbara, where the company is spending more than $640 million on mines, ports and rail facilities. Goodyear said last month the company might raise production capacity in Pilbara by 50 percent.
.
BHP Billiton will immediately ship an additional 4 million to 6 million tons of iron ore to the four Chinese mills in 2004, it said.
.
Bloomberg News

< < Back to Start of Article MELBOURNE BHP Billiton, the world's biggest mining company, on Monday said it would sell $9 billion of iron ore under a 25-year contract to four Chinese steel makers, including Maanshan Iron Steel, as demand for the raw material soars.
.
BHP Billiton will supply 12 million metric tons of the ore annually under a joint venture with the Chinese steel makers, the company said. The other partners are Tangshan Iron Steel, Wuhan Iron Steel and Jiangsu Shagang Group.
.
The agreement expands BHP Billiton's iron ore sales in a market forecast to grow 21 percent this year. The company and rivals such as Rio Tinto Group are selling more minerals and metals to China, where demand for cars, homes and electronic appliances helped industrial production increase at a record monthly pace of 19 percent in January.
.
"Any long-term contract BHP can sign for volumes has got to be positive," said Gavin Van der Wath, an asset manager at Allianz Dresdner Asset Management in Sydney. "The China element" makes the agreement even more attractive, he said.
.
Shares of BHP Billiton, the world's third-biggest iron ore exporter, rose to the highest in almost two months. The stock advanced 1.4 percent to close at 12.43 Australian dollars, or $9.61.
.
BHP Billiton and other iron ore suppliers, such as Rio Tinto Group and Vale do Rio Doce, will receive record-high prices for the commodity in the year beginning April 1 after their main customers in Asia agreed to the biggest annual price jump in 24 years. The companies won a 19 percent increase in price.
.
The prices that the Chinese venture partners will pay for their iron ore will be based on market conditions, Graeme Hunt, president of BHP Billiton's Western Australian iron ore division, said in Beijing.
.
The agreement will help BHP Billiton at least maintain its 13 percent share of the imported iron ore market in China, Hunt said. The company shipped 19 million tons last year, compared with total imports of 148 million tons into China.
.
"The price will not be any higher than what's available elsewhere," said Tian Zhiping, general manager of Tangshan Iron.
.
Vale do Rio Doce, based in Brazil, agreed in December to increase shipments to Shanghai Baosteel Group under a 10-year contract that will raise its sales to Baosteel to 14 million tons a year from 2010 to 2016. The agreement is separate from a 20-year contract signed in 2001 to ship an annual 6 million tons of iron ore to Baosteel, China's largest steel maker.
.
China's imports of iron ore might rise 21 percent in 2004 to 180 million tons, according to Xu Aihua, an analyst at Antaike, a research affiliate of China Iron Steel Association. China consumed 36 percent of the world's steel production last year and its output may rise 17 percent in 2004.
.
That demand is leading BHP Billiton and the London-based Rio Tinto to spend more than $1.5 billion on mines, ports and railways in the Pilbara region of Western Australia state. Australia is the world's biggest iron ore exporter.
.
China is BHP Billiton's fastest-growing market, with total sales more than doubling to $630 million in the last quarter. The venture agreement will be the company's largest commercial accord with Chinese steel mills, BHP Billiton said.
.
"We expect the relationship between China and BHP Billiton will provide further opportunities for our other businesses, notably metallurgical coal and manganese," said the chief executive, Chip Goodyear.
.
BHP Billiton's carbon steel materials unit, which includes iron ore and coking coal, accounted for about 19 percent, or $238 million, of the company's total second-quarter earnings of $1.25 billion before interest and taxes
.
The deal will be formalized by June and will underpin BHP Billiton's plans to expand iron ore output in Pilbara, where the company is spending more than $640 million on mines, ports and rail facilities. Goodyear said last month the company might raise production capacity in Pilbara by 50 percent.
.
BHP Billiton will immediately ship an additional 4 million to 6 million tons of iron ore to the four Chinese mills in 2004, it said.
.
Bloomberg News MELBOURNE BHP Billiton, the world's biggest mining company, on Monday said it would sell $9 billion of iron ore under a 25-year contract to four Chinese steel makers, including Maanshan Iron Steel, as demand for the raw material soars.
.
BHP Billiton will supply 12 million metric tons of the ore annually under a joint venture with the Chinese steel makers, the company said. The other partners are Tangshan Iron Steel, Wuhan Iron Steel and Jiangsu Shagang Group.
.

[maywillow] 27/2/2004 09:26

FRANKFURT (AFX) - Anglo-Dutch company LNM Group, the world's second largest
steelmaker, expects to play a leading role in an expected wave of mergers in the
industry, chairman Malay Mukherjee told Handelsblatt newspaper.
Mukherjee predicted that in the next ten years, consolidation will radically
reduce the number of global players in the industry.
"In ten years, we will possibly only have a handful of steel companies that
operate worldwide and which will have an output of 80-100mln tonnes (a year),"
he said.
LNM will play an "active and a leading role," in the consolidation, he said.
The world's largest steelmaker, Arcelor, has an annual output of 40 mln
tonnes, while LNM makes some 38 mln tonnes, and Germany's largest steel maker
ThyssenKrupp AG produces some 17 mln tonnes, Handelsblatt said.
Steelmakers will also battle with each other in the attempt to take over
coal mining companies to have better access to raw materials and to avoid
shortages in supply, he predicted.
Demand for steel in China, where LNM is the largest steel supplier, will
continue to rise, as the country still uses very little steel per head of its
1.3 bln population, Mukherjee said.
[e-mail]
din/cw