Closure of Indiana Harbor West Unsubstantiated

“While it’s true that global economics, coupled with internal cost and productivity challenge, have placed significant pressure on our USA business and forced us to re-evaluate our footprint, no final decisions have been made with regard to an asset optimization plan.”

Harshaw noted that due to contract negotiations and the quite period in advance of second quarter earnings results, the company is limited in what can be said to the press. He reiterated that the rumors where just that, rumors and not a decision, and should not cause stakeholders concern.

Steel Market Update reported ArcelorMittal’s response to the rumors in its Tuesday issue: ”No final decisions have been made about potential asset rationalization within ArcelorMIttal USA. However, we are unable to comment further as we are in a quiet period in advance of our earnings announcement later this month.”