In recent week, the market has been rumored that India's Tata steel company is likely to set up a joint venture with Germany ThyssenKrupp, but these two companies did not comment.

The industry believed that overcapacity and under great economic pressure, European iron and steel industry is most likely to merge, but there is no one knows what will happen, and when it happened.

ThyssenKrupp is still seeking through consolidation to improve efficiency of the iron and steel sector, strengthening competitiveness. According to market sources said that these two companies have been contacted each other.

If these two companies merge, will become Europe's second-largest steel manufacturer.