Deals
Mittal Backs China for Possible Ending of Steel Merger Curbs
This article is for subscribers only.
ArcelorMittal, the world’s largest steelmaker, welcomed the potential removal of a near 10-year block on overseas takeovers in China’s steel industry.
ArcelorMittal is one of the few foreign steel mills with investments in China since the ban on overseas control was imposed in 2005. The world’s top producer and consumer is considering scrapping the ban which may be a catalyst for global mills to revive a push into China’s $423 billion steel sector where demand is seven times greater than in the U.S., the next biggest market.