04
Feb
09:10
Nippon Steel withdraws from Brazil OCTG venture
Japanese steelmaker Nippon Steel Corporation says it will sell all of its 15% stake in Vallourec Solugoes Tubulares do Brazil SA (VSB) to its French parent company Vallourec by March, Kallanish notes.
VSB is a pipe manufacturing joint venture between Nippon Steel, Sumitomo Corporation and Vallourec. However, demand for carbon OCTG pipe produced by VSB for Nippon Steel has declined since last year. It is no longer economically viable for Nippon Steel to maintain it…
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Very good overview of the weekly steel market.
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