Steel Mills

US Steel Announces New Capacity Reductions
Written by John Packard
January 27, 2015
On Monday after the financial markets closed, US Steel announced the company would temporarily reduce operations at their Lone Star Tubular Operations in Lone Star, Texas as well as their Fairfield Tubular Operations in Fairfield, Alabama. USS Fairfield Works, which is the primary flat rolled supplier of rounds to the Fairfield Tubular plant will also adjust operations.
It is not yet known if the reduction of capacity at Fairfield Works will mean the idling of their one blast furnace at the plant. The rumor mill has been circulating for awhile that the idling of this furnace was being considered. We will learn more about the exact nature of the production curtailments when U.S. Steel President and CEO Mario Longhi conducts the company’s 4th Quarter earnings conference call with analysts on Wednesday at 8:30 AM ET.
The reason for the reduction in operations was due to, “…softening market conditions that reflect the cyclical nature of the energy market. Global influences in the market, like unfair trade and fluctuating oil prices, continue to have an impact on the business.”
Steel Market Update has posted the full content of the U.S. Steel press release on our blog.

John Packard
Read more from John PackardLatest in Steel Mills

Nucor names Batterbee, Bledsoe to HR roles
Nucor Corp. has promoted Thomas J. Batterbee to the position EVP of human resources and talent and appointed Elizabeth Bledsoe to the newly created position of president of human resources and talent.

Millett sees tariffs, CORE case benefiting SDI
Steel Dynamics' top exec thinks Trump’s tariff policies, as well as the results from the recent CORE case, will prove advantageous to the Fort Wayne, Ind.-based steelmaker and aluminum company.

USW digs in on opposition to USS-Nippon deal
“We remain deeply concerned about the national and economic security implications of the subject transaction,” the union stated in the letter dated April 21.

SDI’s Q1 earnings slump on-year, but up sequentially
SDI earnings slip in first quarter year over year, but are up sequentially.

POSCO inks MoU with Hyundai on Louisiana EAF mill
POSCO has signed a Memorandum of Understanding (MoU) with Hyundai Motor Group that includes an equity investment in Hyundai’s previously announced EAF mill set to be built in Louisiana.