Europe: ArcelorMittal acquires 80% stake in US-based Voestalpine’s HBI plant

ArcelorMittal has recently acquired 80% stake in Voestalpine’s direct reduced iron (HBI) plant in Corpus Christi, Texas, USA. The plant has an annual capacity of 2 mnt, and shall supply 420,000 t of HBI annually as per the contract. Market participants anticipate that the negotiations between the two companies would be completed within two-to-three months.