Nippon Steel Corp. and Sumitomo Metal Industries Ltd. said Wednesday they will negotiate a broad tieup that might include the integration of their stainless steel operations.
The accord lists areas for enhanced cooperation and comes as the steelmakers are struggling to survive a harsh economic slump.
The two already have business ties in which they share semifinished steel products, reinforce each other's stainless steel operations and combine on distribution and materials procurement.
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