In a notification to its customers, Czech Republic-based plate producer Vitkovice Steel has stated that it will pause plate deliveries as its Quarto mill will presumably be halted for 10-12 business days amid slab supply disruptions, SteelOrbis has learned.
The sanctions against Russia included leasing company JSC GTLK, which owns two carrier vessels carrying 15,400 mt of slab for Vitkovice that were supposed to be unloaded at ports in Poland last week. However, sanctions came into effect without giving any time to the company to unload and the vessels returned to the loading port. Vitkovice Steel stated that they are looking for alternative vessels and they will have a raw material shortage for the short term until they find other vessels.
Earlier this week, the Czech Republic’s Financial Analytical Office froze the assets of Vitkovice Steel, alleging that the company’s owners have ties with Russia. “The company can continue to operate, run its business, pay employees and meet its business obligations to its partners, but it must not be sold or its shares be transferred to another owner,” Tomáš Weiss, Czech finance ministry spokesman, said. Meanwhile, the management of the company denied that its owners have ties with Russia.
