Earlier this month Nippon Steel Corp. and Sumitomo Metal Corp. of Japan merged to form the second biggest steelmaker in the world. The merged company had a combined production capacity of 46 million tons which is about half of production capacity of the number one global steelmaker ArcelorMittal (MT). Nippon Steel & Sumitomo Metal trades on the OTC market …

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The global demand for steel has fallen sharply except China. Due to the crash in residential and commercial real estate, demand for steel is low. Another reason is the slump in automobile production in developed world. China continues to show strong demand for steel due to the many public infrastructure projects under construction there. However …

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