How does the Mittal-Arcelor deal impact Poscos plans?
I don’t think that the merger will directly impact our global plans. But the situation created by the merger will put pressure on steel makers to get bigger. The concept of national steel players with operations limited to a single country is now outdated. Posco is on the move to expand; India is a key step in our growth. With so many Indian steel companies expanding, is there a risk of overcapacity? If the expansion plans of all these companies succeed, then there might be some fear of overcapacity creation. But I don’t know how many of the projects proposed will actually become operational. How do you see the global steel prices moving? What happens when China starts exporting? Up to 2004, there was a high pick-up in the global steel prices, mainly because of steep demand from China. But after 2004, the steel market saw a downturn. There are still some fluctuations in steel prices, which are expected to stabilise after some time. In China, many new steel plants are coming up and once
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