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[Ferro-Alloys.com] Germany's Thyssenkrupp is looking to close its plate mill as it failed to find a buyer while still pursuing discussions with several other steel producers to find a buyer or partner for the struggling entire steel unit until deciding in March next year, the company said Nov. 19.
The company is also evaluating whether a "stand-alone" future strategy without a partner for the steel unit can work. The company also highlighted the transformation to green steel will need government funding and it would be in discussion with the state and federal governments.
Thyssenkrupp received a non-binding offer from Liberty Steel for its steel unit in October.
Vale (NYSE: VALE) announced on Wednesday it expects to produce 300-305 million tonnes of iron ore this year, missing a previously lowered 2020 target of at least 310 million tonnes.
The company expects annual production of between 315 and 335 million tonnes for 2021.
“We think the 2021 guidance is particularly frustrating, especially considering management has recently stated the starting point for 2021 is 318mt,” analysts at Bradesco BBI investment bank said in a research note to Reuters.
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- [Editor:kangmingfei]
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