I don’t know if this will be good for steel users or bad. It will certainly create a new super steel supplier, and concentrate a lot of steel capacity in one company. How they use that concentration, whether to create real synergies and economies or merely to bully steel consumers, remains to be seen. It certainly is a situation that bears watching.
Mittal Steel Chief Executive Lakshmi Mittal said on Thursday talks with rival Arcelor (CELR.PA) on a possible takeover were going well and included discussions about the value of the deal.
“We’ve already had a meeting and we will have another … so far discussions are satisfactory,” he told Belgian lawmakers at a reception at the country’s upper house.