04
Dec
18:40
AK Steel, Cleveland-Cliffs merger raises eyebrows
US iron ore producer Cleveland-Cliffs’ decision to buy integrated steelmaker AK Steel for roughly $1.1 billion is producing mixed reactions, both in the market and on Wall Street, Kallanish reports.
A source at a competing mill says he, and the market at large, are still “... digesting” the implications of the buy. Several buy-side sources meanwhile expressed skepticism that the company’s projected synergies of $120 m…
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Anonymous
Very good overview of the weekly steel market.
Anonymous