Italian steel producer Lucchini is expected to shut down its blast furnace in Piombino on Wednesday, April 23, after trying to postpone the inevitable end by halting production on Friday, April 18 and using limited raw materials, according to media reports.
The blast furnace is expected to remain idle for at least 25 days and it is not likely to restart after that period.
The deadline for the acquisition of Lucchini's Piombino works is May 30 and the future of the blast furnace depends on who will acquire the plant. Indian steelmaker JSW Steel is reportedly interested in the plant and mulling to set up an electric arc furnace in case of acquisition.