ArcelorMittal (NYSE: MT) holding talks with Wuhan (NASDAQ: WUHN), bypassing the Rio Tinto, Vale and BHP Billiton
ArcelorMittal (NYSE: MT) coming to terms with the Chinese
In brief: Wuhan General Group China Inc. (NASDAQ: WUHN) is seeking support with ArcelorMittal (NYSE: MT). The new metal conglomerate could become the world's leading steel producer.Wuhan General Group China Inc. (NASDAQ: WUHN) shares dropped to1.31 points, losing -0.08 (-5.75%). ArcelorMittal (NYSE: MT) shares rose
to 30.42 points, gaining +0.73%).
Wuhan Iron and Steel Group (Chinese steel company) is holding cooperation talks with Luxembourg ArcelorMittal, the world’s largest steel manufacturer. The two companies expect to reach complete self-sufficiency within 3 to 5 years by reducing dependence on iron ore supplies from Rio Tinto, Vale and BHP Billiton.
Anrey Torbinski2010-08-17 13:28, Commodities.
News on: ArcelorMittal, BHP Billiton, BHP Billiton Wuhan General Group China Inc., Luxembourg ArcelorMittal, metals, Rio Tinto, steel, steel manufacturer, stock markets, usa, Vale, Wuhan