Group representatives said that this was due to the very low steel product prices in the European market.
The company will continue to produce coke exclusively for the Liberty Steel Galati plant in Belgium. At the same time, Liberty Steel acquired Dunaferr less than a month ago in mid-July 2023.
The group paid 55 million euros for the assets of the steel mill. In addition, four more companies applied: Indian Vulcan Steel, Ukrainian Metinvest, Swiss-based Trasteel Trading holding and Hungarian Trinec Property. In the final stage, the government chose Liberty Steel and Vulcan Steel.
Metinvest was planning to pay up to 200m euros for the venture, as its representatives later announced. The company claims that the tender was specifically designed to transfer Liberty Steel's assets and would therefore file a complaint with EU antitrust authorities.