POSCO, the world's fifth-largest steelmaker, is looking at buying an Asian steelmaker as it fights for survival in the global market after the mega-merger of Mittal Steel with Arcelor. The formation of Arcelor Mittal, a giant capable of producing more than 100 million tonnes of steel a year, has spurred major steelmakers to bulk up in defence. Posco also faces challenges from rapidly-growing Chinese producers.
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