Russian group Industrial Metallurgical Holding (IMH) is increasing the steel output from its new Tula Steel subsidiary, which is reducing the volumes available from merchant pig iron-making asset Tulachermet, Fastmarkets learnt during the week ended Friday July 19.
So far in July, Tula Steel has been operating at a utilization rate of more than 50%, making around 70,000 tonnes of long steel products, mainly rebar, and selling this on the local Russian market, a source inside the company told Fastmarkets.In August, the utilization rate of the mill is intended to reach 80%, the source added."We are cutting pig iron availability for the market due to...