Dongkuk Steel bids for Corus' Teesside plant

Dongkuk Steel bids for Corus’ Teesside plant

According to recent news in the market, Korean steel producer Dongkuk Steel Mills (DSM) has bid for Corus' Teesside steel plant in United Kingdom (UK) with the purpose of supplying slabs and raw materials used in plates from the plant. It is reported that Corus intends to sell 80% stake in the mill and accordingly it is in negotiations with potential buyers. Corus' Teesside plant produces 3.4 million tons of slabs annually. Not revealing the details of its bid, Dongkuk stated that it may reduce its raw material costs by 7% through acquiring the subject mill.