U.S. Steel, Arcelor Mittal CEOs see steel growth
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U.S. and global steel markets are poised for medium and long-term growth, two top global steel executives said on Thursday.
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PARIS, Nov 15  - European steelmaker Arcelor said Monday that net profit in the third quarter surged by more than sixfold and forecast a strong fourth quarter amid &#39;healthy&#39; growth in the global steel market, driven by Chinese demand.
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Stock in Pittsburgh-based US Steel Corp. and other publicly traded domestic steel companies posted large gains Monday on news of a three-way merger that will create the world&#39;s largest steelmaker.
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Mittal Steel said Thursday that its profits soared in the fourth quarter, and in 2004, on skyrocketing global demand for building materials.
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RIO DE JANEIRO (Dow Jones)--After jumping 9% in 2003 and 19% in 2004, iron ore prices appear likely to rise another 20% or more in 2005 as the world&#39;s biggest steelmakers
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European steel maker Arcelor   bowed to an improved 25.6 billion euro (&#36;32.2  billion) takeover bid from Mittal Steel  on Sunday to  create a world giant three times larger than its nearest rival.
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India's Tata Steel is set to become the world's fifth-biggest steelmaker after winning a bid battle for Anglo-Dutch steelmaker Corus Group by agreeing to pay 5.75 billion pounds ($11.3 billion).
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Lakshmi Mittal, one of the UK's  wealthiest men, will merge his steel assets and buy  International Steel Group Inc. in a deal worth $17.8 billion to  form the world's largest steel company.
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Seven years ago, after Lakshmi Mittal took his fledgling steel group public, he was asked how he could compete in a global industry undergoing huge upheavals.
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Steel shares hit seven-year highs yesterday after Nissan said the metal is in short supply in Japan. US Steel rose $3.30, or 7%, to $51.25, while Nucor surged $2.90 to $54.05, an all-time high.
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Stock in AK Steel Corp. and other publicly traded US steel companies posted large gains Monday on news of a three-way merger that&#39;ll create the world&#39;s largest steelmaker.
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Steel giants Arcelor and Mittal Steel, which are to combine to create by far the biggest world steel group, said their joint net profit was 1.310 billion euros in the second quarter.
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Indian-born Lakshmi Mittal started out with a steel mill in Indonesia in 1976. By April of next year, the London-based entrepreneur will have bought Wilbur Ross&#39;s International Steel Group
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Tata Steel of India appears set to become the world's fifth-largest steel producer after beating its Brazilian rival CSN in an auction to take over Anglo-Dutch steelmaker Corus with a 13.7-billion-dollar bid.
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Tycoon Lakshmi N. Mittalâs $4.5 billion purchase of International Steel Group will create a colossal powerhouse in the world steel industry with the capabilities of producing 70 million tons of steel annually.
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Steel tycoon Lakshmi Mittal announced plans Monday to take over US steelmaker International Steel Group as part of a three-way merger to create a global metals mammoth.
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Steel firms Mittal  and Arcelor   are drawing close to a friendly merger deal that  would end a six-month hostile bidding war and forge the world&#039;s  largest steel company, French newspaper La Tribune reported on  Friday.