Tata Steel in fray to buy furnaces

Tata Steel is among five global steel majors that have evinced interest in buying ArcelorMittal's two closed blast furnaces at Florange. Russian steel-maker Severstal, Italy's Riva, South Korean Posco and French Ascometal are also in the race, according to The Guardian.

The French government has until Saturday to find a buyer for the Florange furnaces and had contacted 117 steelmakers, of whom five have shown interest. However, talks were said to have stalled because the furnaces are not considered profitable enough without the rest of the Florange site.

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