Vale reaches $1.8 billion railway concessions deal
The company reached an agreement with local authorities to pay up to some 11 billion reais to renegotiate two railway concession contracts.
Germany’s May crude steel output of 4.1 million mt marked a 1.1% increase on the prior year, as Europe’s largest steel producer snapped back from April’s first monthly annual decline since October 2009, steel industry association Wirtschaftvereinigung Stahl figures show.
Output grew on-month from April’s 3.8 million mt, WV Stahl said in a statement Thursday. For the year to May, output at 19.3 million mt was 2.3% higher on the same period of 2010, it said.
