Consolidation in the Steel Industry

More consolidation is going on in the steel industry. This week at the Sheraton Hotel in Buenos Aires, steel leaders from around the world are meeting for the 40th International Iron and Steel Institute Congress. It was mentioned at the meeting that U.S. Steel is a target. Posco, South Korea's biggest producer, is on a buying binge and promises to double their capacity in the next couple of years by purchasing undervalued mills outside of their home country. Could it be that the icon of our countries industrial may soon be in the hands of Korean industrialists?