JSW Steel is interested in purchasing STEMCOR HOLDINGS assets in India

JSW Steel London Office received proposals for the sale of Indian assets of the British mining corporation STEMCOR HOLDINGS. This is reported today by Bloomberg.

For the third in the size of the JSW Steel steel company, the acquisition of assets burdened with STEMCOR debts would be in handy. According to experts in this case, the company's costs for the production of one ton of steel can be reduced by 27 percent at current prices. In addition, British iron ore assets can ensure the stability of supplies and independence from the import of iron ore raw materials.

As you know, STEMCOR HOLDINGS recently applied to creditors with a request to give a delay in repayment of $ 850 million. At the same time, according to Goldman Sachs Group analysts, Indian careers of the company can be estimated at $ 1 billion. STEMCOR asks to give her three months to solve problems.

Meanwhile, JSW Steel today is forced to work at lower power due to a catastrophic deficit of raw materials after a government restriction of iron ore mining in the Indian carnataka, where the largest metallurgical plant of the company is located.

However, according to the intelligence of Reuters, at least two more players joined the struggle for the assets of the experienced financial difficulties of the British company: Jindal Steel and Power Ltd.

According to the price index compiled by Steel Index, iron ore prices with 62 percent of iron content in the Tianjin port fell by 24 percent to the lowest level of 110.40 dollars per ton of May 31 and recovered by 19 percent to 131.90 dollars per ton yesterday.