WISCO denies withdrawal from Brazilian steel project

Thursday, 05 July 2012 10:47:42 (GMT+3)   |  
       

Major Chinese steelmaker Wuhan Iron and Steel (WISCO) has issued a denial in response to media reports which said the company had abandoned plans to build a steel production plant in Brazil costing $5 billion due to concerns regarding logistics and coking coal supplies.

The steel plant project is a joint venture between the Chinese steel producer and Brazil-based EBX Group.

A WISCO spokesman said the company has not withdrawn from the project, adding that the two parties are still working on the project.

A report from China-based 21st Century Business Herald had said WISCO had dropped out of the project after feasibility studies found the project was too risky due to issues including logistics, transport and coking coal supplies.


Similar articles

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

India’s coking coal imports from Russia hit peak in April-February of FY 2024-24

26 Mar | Steel News

China’s coking coal imports up 36.52 percent in January-February

26 Mar | Steel News

Fitch Ratings raises iron ore price assumptions for 2024-2026 amid limited supply

22 Mar | Steel News

Ex-Australia coking coal prices heading below $250/mt FOB

21 Mar | Scrap & Raw Materials

Turkey’s coking coal imports up 102.2 percent in January

19 Mar | Steel News

Local Chinese coking coal prices - week 11, 2024

15 Mar | Scrap & Raw Materials

Local coke prices in China decline, further cuts expected

15 Mar | Scrap & Raw Materials

Buyers seek $250/mt FOB for ex-Australia coking coal after latest deal

15 Mar | Scrap & Raw Materials

Ex-Australia coking coal drops closer to $280/mt FOB as suppliers try to push sales

14 Mar | Scrap & Raw Materials