Trasteel Magona has initiated operations at the Piombino steel plant under a lease agreement effective October 2026. The arrangement preserves approximately 500 jobs while targeting a gradual return to full capacity exceeding 500,000 metric tons annually by late 2027. The relaunch leverages Trasteel’s global sourcing network, with initial feedstock shipments already ordered from Turkey. The transaction awaits final approval of the previous owner’s restructuring plan by the Court of Florence.