Russian steelmaker and Spain's Gestamp plan to commission a stamping line and service centre at Volkswagen's assembly plant near Moscow in the first quarter of 2010, Severstal said.
In a leading move, Severstal North America Inc. has announced plans to increase flat-rolled product spot prices by an additional $30 per ton in February, and market sources indicate the tags will likely stick due to low inventory levels.
Some of OAO Severstal's North American steelmaking operations, which have been idled for several months, are now scheduled to be back in operation before year-end.
The long-range plan for Severstal North America Inc.'s steelmaking operations remains unclear, but the plan for its North American service center operations is coming into focus.
Severstal may take advantage of a weaker US dollar to export from its North American operations, Severstal head of strategic planning Andrei Laptev said.
Esmark Inc. is poised to reenter the
U.S. steel industry little more than a year after taking
advantage of record prices for the metal to sell its business to
Russia’s OAO Severstal for about $775 million.
OAO Severstal's North American operations reported improved selling prices and shipments in the three months ended Sept. 30 compared with the second quarter, but the results still trailed levels seen in the same period last year.