02
Dec
14:36
Severstal divests coking coal arm
Russian vertically integrated steelmaker Severstal has agreed to sell its Vorkutaugol mining arm to Russkaya Energiya, the companies say in a joint statement. The RUB 15 billion ($203.2 million) deal is penned for completion in the first quarter of 2022, after relevant permits have been issued by the country's Federal Antimonopoly Service (FAS), Kallanish notes.
The sale of Vorkutaugol will enable Severstal to further focus on its strategy to develop its …
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Very good overview of the weekly steel market.
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