Tata Steel is continuing talks with its rival ThyssenKrupp about a potential merger despite fears it could lead to job losses.
Almost 7,000 people are employed by Tata Steel across Wales, including more than 4,000 in Port Talbot.
Unions fear the merger would be "high risk" and could lead to job josses.
Tata Steel said it continued to be in "constructive discussions" with the German company about a potential merger.
Talks about a possible merger began in July 2016 after Tata decided to call off its sale of its Port Talbot site.
IG Metall union, which represents metalworkers in Germany, fears the joint venture could pave the way for ThyssenKrupp to exit the steel business entirely.
This has lead to speculation over what any merger could mean for workers at Port Talbot and other Tata sites across the UK, including Shotton, in Flintshire.
The Community Union, which represents steel workers in the UK, said it was not aware of any concrete proposal of a merger.
A Tata Steel spokesman said: "We continue to be engaged in constructive discussions with Thyssenkrupp regarding a potential merger of the steel businesses of the respective companies in Europe.
"However, until a definitive agreement is reached, there can be no assurances these discussions will result in a transaction."
ThyssenKrupp said all restructuring steps would be discussed and carried out in a "careful and measured way" and in close consultation with unions.