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Arcelor will need to grow to catch up with Mittal Steel



COMPANY            MAIN        2004
                   MARKET      OUTPUT*
Mittal Steel       Global      58
Arcelor            EU          50
Nippon Steel       Japan       31
JFE                Japan       30
POSCO              Korea       29
Baosteel           China       20
Nucor              USA         19
U.S. Steel         USA         18
Gerdau             Brazil      15
Severstal          Russia      12



* millions of metric tons
Data: World Steel Dynamics, BW