Italy’s Lucchini has reportedly received a binding offer from JSW Steel, whereby the Indian company aims to take on core assets in Piombino. Lucchini is said to be considering the offer, but mill sources were not available to comment on 12 September, as Kallanish went to press.


Lucchini was previously owned by Russia's Severstal, but after getting into financial difficulty in 2012, it was placed into special administration, when Severstal failed to find a new buyer.


Lucchini has declined to say if JSW's offer includes all of the assets, or just some. Lucchini said in July that it had received five bids for some of its company, and many commented at the time that JSW could be the favourite, with its bid for a 69.27% stake.