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The Joint Managing Director and CEO of JSW Steel, Dr B.N. Singh, says the deal is a very good news and he is looking forward to a reasonable price line. He told CNBC - TV18: It is a very good news because of two reasons. One is Indian has proved his mettle in the giant steel industry. Second is that consolidation in the steel industry is very critically required. Industry was fragmented and if the consolidation takes place, it gives strength to the industry to give the price line in at reasonable level and supply steel at a reasonable price to the customers. That means the steel industry will be in a stronger position to run the business.

I think things will look up because in both places, in Europe and in the US, Mittal Steel's domination will give him better strength to determine the prices.

They determine international prices and we being in the export market, one will look forward to eagerly.

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