Work to refurbush the unit started earlier than expected, on June 23
. It was originally planned to be carried out in August-September, but the company saw the global steel markets deteriorate at a fast pace, and made the move early.
“The previous strategy of producing crude steel to supply the Asian markets with slab was not paying off at a time of falling prices,” Baptista said. “The company is extending the revamp process through December, when it will decide its next steps.”
Fastmarkets’ price assessment for steel slab, import, cfr Southeast Asia/East Asia, was $425-435 per...