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Mechel
(MTL) Temporarily Halts Steelmaking Facilities in Romania, Ukraine
23
November, 2012
Mechel
OAO (NYSE: MTL), a Russia-based integrated mining and steel company,
reported a temporary suspension of steelmaking facilities in Romania
and Ukraine due to unfavorable conditions for raw materials and
finished steel products.
The
company temporarily halted production at Donetsk Electrometallurgical
Plant (DEMZ), which is part of Mechel's steel division, and the
scheduled temporary suspension of production at the group's Romanian
steel-making facilities that are part of Mechel's Eastern European
Steel Division.
Starting
on November 21 and 22, electric smelting facilities at Mechel
Targoviste and Ductil Steel Otelu Rosu were temporarily halted.
Rolling production at Mechel Targoviste will also be temporarily
suspended starting November 27 once production plans are met.
Starting December 15, rolling and hardware production is planned to
be temporarily halted at Ductil Steel Buzau, Laminorul Braila and
Mechel Campia Turzii.
Italy's
Lucchini to halt steel furnace temporarily
23
November, 2012
Lucchini,
Italy's second largest steel producer, will temporary shut down its
Piombino blast furnace in December due to weak market conditions, the
debt-burdened company said on Friday.
The
Italian and European steel industry face a time of hardship due to
declining demand and economic weakness.
"I
can confirm that a temporary closure will take place due to market
conditions. We make steel on order and given the current situation we
have decided to halt the blast furnace," a spokesman for
Lucchini said.
"In
Italy we are not the only company planning to halt its furnace. We
all know how difficult the situation is."
Piombino,
Lucchini's main production site, can produce up to 2.5 million tonnes
of steel every year. This compares with Italy's total production of
28.7 million tonnes in 2011.
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