US Steel Company Will Temporarily Shut Down 3 Blast Furnaces

Beginning in 2018, the US government has been promoting the huge contribution of the steel-aluminum tariff policy introduced in March last year to the revitalization of the domestic steel industry. However, there have been different industry trends in the United States recently. US Steel Corp., one of the beneficiaries of the import tariff policy, announced that it would temporarily shut down two blast furnaces in the US and a blast furnace in Europe. The shutdown will continue until the market environment improves. As a professional manufacturer, Glory Steel could offer steel flat bar crane rail.

The decision was made at a time when US steel prices continued to fall, as there was widespread concern that new capacity that emerged in the next few years could lead to oversupply. After the implementation of the new steel and aluminum tariffs in the United States, several US steel mills have announced plans to expand capacity or restart existing projects, including Nucor Corp., Steel Dynamics Inc., and Commercial Metals Co. and US Steel.

“In the United States, our B2 blast furnace at Great Lakes last week has been scheduled to go out of service,” said the Pittsburgh-based US Steel Company. “Based on current market conditions, we expect the B2 blast furnace to remain closed after completion of the overhaul. In addition, we expect the Group’s Garry plant to temporarily shut down a Southern District blast furnace.”

To be sure, the tariff does provide an adrenaline-like development for the US steel industry. Nucor Steel and U.S. Steel, the largest US steelmakers, achieved significant profit growth in 2018. But in general, investors have reason to feel that they are being blinded. The S&P Supercomposite Steel Index, which covers 13 US steel companies, has fallen 29% in the past year, with US Steel’s share price falling by as much as 60%, ranking at the top among 13 sample companies list. If you have any steel flat bar crane rail purchasing plan, pls feel free to contact us.

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