06
May
12:46
Severstal agrees Balakovo sale to Abinsk
Severstal has agreed to sell its Balakovo long product mini-mill in the Volga Federal District to Russian scrap-based steelmaker Abinsk Electric Steel Works (AEMZ) for $215 million. The transaction is scheduled for completion by end-June.
Several sources told Kallanish in March of the negotiations between the two firms over the 1 million tonnes/year capacity Balakovo mill (see Kallanish passim). The mill produced just over 800,000t of saleable steel pr…
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Very good overview of the weekly steel market.
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