A shut-off and control valve is used in regulating the discharge of molten metal from a metallurgical vessel into a continuous casting plant for continuous casting of a sheet, strip or slab having a relatively wide width dimension with respect to thickness dimension. The valve includes an elongated refractory stator having therein an elongated recess defined by a cylindrical inner surface. The stator has therethrough an elongated slot-like discharge channel, and the stator is mounted adjacent an elongated outlet opening of a metallurgical vessel. An elongated refractory rotor is rotated about a longitudinal axis and has a cylindrical peripheral outer surface arranged symmetrically about such axis and complementary to the inner surface of the stator. The rotor has therethrough an elongated slot-like flow channel. The rotor is fitted within the recess in the stator with the outer and inner surfaces of the rotor and stator, respectively, symmetrically positioned about the axis and in sealing contact with each other. Rotation of the rotor about the axis relative to the stator and/or axial movement of the rotor within the recess relative to the stator selectively bring the flow channel of the rotor relatively into and out of alignment with the discharge channel of the stator.