TK Steel Americas sale said near; market waits

Oct 29, 2013 | 04:09 PM | Catherine Ngai

Tags  steel, ThyssenKrupp, Steel Americas, ArcelorMittal, Nippon Steel & Sumitomo Metal, Cia. Siderurgica Nacional, Calvart, Catherine Ngai

NEW YORK — Market rumors have been circulating since late last week on the imminent sale of ThyssenKrupp AG’s Steel Americas operations in Calvert, Ala., with some market players expecting the deal to help tighten supply and increase pricing in the Southeast.

Market participants are expecting an announcement as early as this week from the Essen, Germany-based steelmaker or from the likely joint buyers—Luxembourg-based ArcelorMittal SA and Tokyo-based Nippon Steel & Sumitomo Metal Corp. While AMM could not confirm the bid, the move by the world’s largest and fourth-largest steelmakers, respectively, could mean consolidation in the U.S. market.....





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