【Ferro-alloys.com】：The Czech Republic-based steelmaker Liberty Ostrava, a subsidiary of UK-based Liberty Steel, has stated that it has updated its optimization plan for its operations including the restart of its blast furnace No.3, which was idled in October due to lower steel demand in Europe, and the ramp-up of its steel works in January.

The updated optimization plan is reported to incorporate a new operational model, allowing its downstream rolling mills to operate at higher capacity and more profitably. The plan will focus on conserving cash by temporarily closing production of products for which there is little or no demand, such as wire rod, while producing high-value products for which there is strong demand, such as threaded bars.

The company also plans to import coke as well as low-cost semi-finished steel for conversion in rolling mills with the aim to use the unfavorable market conditions in Europe to its advantage.

In addition, Liberty Ostrava has been granted a specific creditor moratorium against its energy supplier Tameh, allowing the business to negotiate terms for securing energy at normal market rates. “We have already proposed a number of solutions to Tameh to ensure a sustainable future for both businesses.This included an offer yesterday to provide Tameh with the coal and services it needs to keep the plant working.We will continue to engage with Tameh over the coming days," a spokesperson from the company said.

• [Editor:Alakay]