NIPPON STEEL AND BRAZILIAN MINING GROUP TO CONSIDER FORMING ALLIANCE TO DEVELOP COAL AND IRON ORE

摘要

Nippon Steel, the world's second-biggest steelmaker by output, and Companhia Vale do Rio Doce, the Brazilian mining company, yesterday saidthey were considering jointly developing coal and iron ore projects, writes Mariko Sanchanta in Tokyo. The decision emphasises Nippon Steel's push this year to forge international alliances in the wake of consolidation in the industry, which had been sparked by Mittal Steel's takeover of Arcelor. Increased competition from China - the world's biggest buyer of raw materials has increased pressure on Japanese steelmakers to form long-term contracts with suppliers.