Steel Mills
Alton Steel Joins Layoff Trend
Written by Sandy Williams
April 10, 2015
Another steel mill bites the bullet and lays off employees as a result of poor market conditions.
Alton Steel laid off 88 union workers at its melt shop and bar mill for a period of at least three weeks or more. According to a union member in report by local news source The Telegraph, the melt shop has been cut back to one shift from two and the bar mill from three shifts to two.
The layoffs are attributed to challenging market conditions from unfairly traded imports, low steel prices and the drop in steel demand from energy markets.
Alton Steel produces special bar quality (SBQ) round bars and round cornered squares and is located in Alton, IL. Alton Steel operates a 200 ton electric arc furnace with a capacity of 750,000 tons annually and the ability to roll 400,000 tons of steel in its 14″ rolling mill.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
CRU: Tata Steel looks to shed 1,600 jobs in the Netherlands
The company said, “The challenging demand conditions in Europe driven by geopolitical developments, trade and supply chain disruptions and escalating energy costs have affected the operating costs and financial performance."
Reports: Federal funding for Cliffs’ project could be slashed
Elon Musk's DOGE is determining which Department of Energy grants to advance and which ones to terminate, according to several media outlets
Trump still against selling USS to Japanese firm: Report
Despite ordering a new review of Nippon Steel’s bid for U.S. Steel, President Trump said he is still against selling USS to a Japanese company, according to media reports.
Algoma looks to sell more steel in Canada in wake of Trump’s tariffs
The Canadian steelmaker said its absorbing higher tariffs as it moves forward.
Ancora abandons plan to take over leadership of USS
Investment firm Ancora Holdings Group has halted its play for U.S. Steel's board, citing Nippon Steel’s proposed bid for USS “gaining momentum.”