In addition to languid market conditions for developing the project, there is a lack of port facilities adequate to serve the export markets. The parties are expected to resume talks of the steelworks project early next year.
Cosipar delays plans for Brazilian steelworks project until 2012
The Cosipar Group, Brazil's largest pig-iron producer, announced Thursday that it is delaying plans for a steelmaking project in Barcarena, Para in Northern Brazil. The project, Usina Siderurgica do Para, would include a steel slab and a coking coal plant. The project's main partner--Igor Zyuzin, who currently owns a 70 percent stake in OAO Mechel, the largest Russian coal company--and Cosipar decided the plans for the project would be delayed until global steel market conditions improve.
Tags:
Coking Coal Slab Pig Iron Semis Raw Mat Brazil Russia CIS South America Steelmaking Mining Economics Investments Mechel
Marketplace Offers
Similar articles
Metinvest’s Q2 output results hit by Covid-19, some support from iron ore and pig iron demand
06 Aug | Steel News
WSD Strategic Insights #9: Correlation coefficients illuminate steel price relationships
22 Mar | Steel Matters
US flat steel prices up amid scrap gains as weekly steel production soars to new high
06 Nov | Flats and Slab
US import long steel prices trend up amid claims of tight supply as margins remain slim
06 Nov | Longs and Billet