ArcelorMittal may build auto-grade steel plant in India

• ArcelorMittal (MT -1.6%) says it will explore the possibility of building an auto-grade steel mill with state-run Steel Authority of India, as the two companies sign a memorandum of understanding and plan to form a joint venture for the project.
• The companies say the planned collaboration will address rising demand in India, which is projected to become the world’s fourth-largest automobile manufacturing nation by 2020.