Posted on 17 Jan 2024
Liberty Galati’s blast furnace no.5 has been idled once again due to raw materials supply disruptions. These have now been resolved and the unit should restart in the next ten days, Kallanish learns from informed sources.
The disruption caused BF5 to idle just before the Christmas holiday, interrupting the unit’s ramp-up after it restarted in early November following its previous idling. The rolling lines have continued to operate.
Liberty said in November it was adjusting its product mix and production schedules, reducing its cost base and working with government to bridge energy price differentials experienced across Europe (see Kallanish passim). This, coupled with stakeholder support, was to help to ensure the Galati BF restart was sustained and the plant remains competitive through market cycles and as it undergoes its low-carbon transition.
At Galati’s sister steelworks in Czech Republic, the regional court has ordered Liberty Ostrava to pay around CZK 500 million ($22m) to energy supplier Tameh Czech to settle bills from May, June and September 2023, according to local press reports.
The court granted the steelmaker a specific creditor moratorium against its energy supplier last month, to allow the steelmaker to execute its restructuring plan. However, the firm has been unable to restart BF3 due to lack of energy supply.
“We will continue to act in accordance with the obligations imposed by the general moratorium. We remain focused on executing our robust optimisation plan to deliver a sustainable future for the business,” a Liberty Ostrava spokesperson says.
Source:Kallanish
