Severstal pulls out of Galvex sale tender

Severstal, one of the largest steelmakers in Russia, withdrew from a sale tender held for Galvex, the biggest Estonian producer of galvanized steel. However, as the company representative commented, Severstal was still intending to raise the volumes of galvanized steel and would examine other alternatives to do so. In particular, the company currently examines the possibilities of increasing existing galvanized steel production capacities.