Final Thoughts
US Steel Košice Idles Second Blast Furnace
Written by Laura Miller
December 6, 2022
US Steel has idled a second blast furnace at its Košice steelworks in Slovakia.
The No. 1 BF at Košice has been temporarily idled as of Dec. 2 “as a result of very high energy prices, low market demand and surging imports,” a US Steel spokeswoman confirmed to SMU in an email Tuesday, Dec. 6.
In September, the company pulled forward a 60-day planned outage on the No. 2 Košice BF. That furnace has remained down, awaiting an improvement in customer activity.
“We expect to resume two BF operations at the beginning of 2023,” the spokeswoman added.
A third BF at the carbon flat-rolled, electrical steel, and spiral-weld pipe mill remains in operation.
In its third quarter earnings conference call in late October, executives of the Pittsburgh-based steelmaker commented on the challenging environment it has been facing in Europe. President and CEO David Burritt said on the call the company would continue to adjust to manage the headwinds of high raw material and energy costs, buyer destocking, and the continuing war in neighboring Ukraine.
By Laura Miller, Laura@SteelMarketUpdate.com
Laura Miller
Read more from Laura MillerLatest in Final Thoughts
Final Thoughts
Some of you have told me that the current market feels about as crazy as early 2021 when demand snapped back after the initial outbreak of the Covid-19 pandemic. Others have said it might be more like late February/early March 2022, when Russia launched a full-scale invasion of Ukraine – and, in the process, caused […]
Final Thoughts
To say we’ve entered a “Brave New World” since Jan. 20 might be an exaggeration, but we’ve definitely entered a different one.
Final Thoughts
I think it’s fair to say that the last few weeks – and last week especially – have been among the most intense for any of us covering steel (or aluminum).
Final Thoughts
A look at how SMU survey respondents are reacting to President Trump's recent actions on tariffs.
Final Thoughts
A lot of the changes basically entail rolling back what I’ll call, for fun, Section 232 Lite. S232 Lite resulted from watering down what I’ll call OG S232 – the one first imposed in March 2018 - with exemptions and exclusions over the years. Now, OG Section 232, is back with its across-the-board 25% tariffs against everyone.