Global steel companies including ArcelorMittal, U.S. Steel and POSCO have made first round offers for ThyssenKrupp's steel mills in Brazil and the United States, a person close to the process said.Nucor, Japan's JFE Steel Corp, China's Baosteel and Brazil's CSN also submitted bids, the person said on Wednesday.ThyssenKrupp said in May it was considering all options for the loss-making steel mills, including a partnership or a sale, to halt the losses and concentrate on its European business.The plants were meant to give ThyssenKrupp a foothold in the Americas, but the mills have had to struggle with rising costs and sluggish demand.
POSCO is a Korea-based company engaged in the manufacture of steel products. Shares of PKX fell by 0.78% or $-0.62/share to $78.91. In the past year, the shares have traded as low as $74.05 and as high as $95.27. On average, 188588 shares of PKX exchange hands on a given day and today's volume is recorded at 93742.
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