Steel Mills
Closure of Indiana Harbor West Unsubstantiated
Written by Sandy Williams
July 15, 2015
Indiana Harbor West is not on the cutting block according to ArcelorMittal USA CEO Andrew Harshaw. In response to media reports that an asset rationalization may occur involving the Chicago area mill, Harshaw said, “What I want to assure you is that we have no intention of reducing our blast furnace capacity in the United States.”
Harshaw said in a blog on the company website that he was “surprised by the news articles” that originated with a KeyBanc note to their clients.
“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.”
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
USW says opposing USS/Nippon deal is First Amendment right, seeks lawsuit dismissal
The union says the suit is "a frivolous and unsubstantiated attack on our union simply for exercising our First Amendment rights."
AISI: Weekly raw steel output ticks higher
The volume of raw steel produced by US mills slightly increased last week, according to American Iron and Steel Institute (AISI) data. Last week’s production rate represents the second-highest level recorded this year.
Opening briefs filed in Nippon/USS lawsuit vs. US government
Together, Nippon Steel, Nippon Steel North America, and U.S. Steel announced the filing of their opening brief in their litigation to invalidate the government’s decision to block their announced merger. The brief lays out “how President Biden made a predetermined decision for political reasons, not national security, causing CFIUS to engage in a sham review […]
Cliffs blames muted auto demand for steep losses in 2024
Muted demand from the auto industry took a particular toll later in the year.
U.S. Steel losses widen, better times seen as BR2 ramp-up continues
U.S. Steel’s losses widened in the fourth quarter on lower steel prices, weaker demand, and startup costs relating to the expansion of its Big River Steel EAF sheet mill in Arkansas. But the Pittsburgh-based steelmaker said it expected results to improve in 2025 as Big River 2 – the project to double capacity at the Osceola, Ark., mill - gains steam.