Steel Mills
Esmark Steel Negotiating for Serbian Steel Mill
Written by Sandy Williams
September 10, 2014
Esmark Steel Group is continuing to pursue the purchase of Serbian steel mill Zelezara Smederevo but is waiting for sale or lease approval by the Serbian government. A spokesperson for Esmark said the company is returning to Serbia next week for continued negotiations and expects the government to announce the final bidders at that time.
Smederevo Steel works was sold to US Steel in 2003 for $23 million and was a major exporter of steel until 2012 when the Serbian government repurchased the company for $1.00.
“We are doing our best to find a solution and a strategic partner for Smederevo steelworks, which creates huge losses for the country,” said Serbian Prime MinisterAleksandar Vucic.
“We are ready to help anyone who would take over Zelezara steelworks as it is not only the interest of 5,200 families in Smederevo whose members work there, but of the entire Serbia,” added Vucic.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Nippon won’t import slabs to US if U.S. Steel deal goes through
Nippon Steel has affirmed that if its $14.9-billion bid for U.S. Steel proves successful, the Japanese steelmaker will not import overseas-produced slabs to the US.
AISI: Raw steel production falls to 5-week low
Domestic raw steel mill production slipped to a five-week low last week, according to the latest figures released by the American Iron and Steel Institute (AISI). Weekly production is now at the third-lowest level recorded this year.
Nucor maintains HR price at $750/ton
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil was unchanged week on week (w/w) at $750 per short ton (st) on Monday, Nov. 18.
Mexican court orders sale of officially bankrupt AHMSA
After failing to reach agreements with its creditors, Altos Hornos de México (AHMSA) has been formally declared bankrupt by a Mexican bankruptcy court.
AISI: Raw steel production edges back up
Domestic raw steel production recovered last week, after slipping the week prior, according to the latest American Iron and Steel Institute (AISI) data. Weekly production remains at some of the lowest levels recorded this year.