ArcelorMittal in talks to merge US assets with Cleveland-Cliffs: Sources

The combination would signal a new push among steelmakers to consolidate and diversify their business, making it less vulnerable to swings in demand. It would come after Cleveland-Cliffs acquired AK Steel, a U.S. maker of flat-rolled carbon steels, including stainless steel, for $3 billion, including debt, last March.

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