Market slumps, BHP-Rio merger worries steelmakers

AS THE Australian market sagged to an eight-week low it was revealed Asian steelmakers aren’t keen on the idea of a merged Rio Tinto and BHP Billiton, with Chinese and Japanese iron ore buyers concerned about what the ‘marriage’ could mean.

The China Metallurgical News quoted an unnamed senior official of the China Iron and Steel Association saying that nation’s steel industry was worried about a monopoly should the merger between the