Steel Mills

US Steel Announces New Capacity Reductions
Written by John Packard
January 27, 2015
On Monday after the financial markets closed, US Steel announced the company would temporarily reduce operations at their Lone Star Tubular Operations in Lone Star, Texas as well as their Fairfield Tubular Operations in Fairfield, Alabama. USS Fairfield Works, which is the primary flat rolled supplier of rounds to the Fairfield Tubular plant will also adjust operations.
It is not yet known if the reduction of capacity at Fairfield Works will mean the idling of their one blast furnace at the plant. The rumor mill has been circulating for awhile that the idling of this furnace was being considered. We will learn more about the exact nature of the production curtailments when U.S. Steel President and CEO Mario Longhi conducts the company’s 4th Quarter earnings conference call with analysts on Wednesday at 8:30 AM ET.
The reason for the reduction in operations was due to, “…softening market conditions that reflect the cyclical nature of the energy market. Global influences in the market, like unfair trade and fluctuating oil prices, continue to have an impact on the business.”
Steel Market Update has posted the full content of the U.S. Steel press release on our blog.

John Packard
Read more from John PackardLatest in Steel Mills

USS swings to loss in first quarter on N. American flat-rolled segment woes
U.S. Steel CEO praised the company’s resilience, “despite the seasonally low results driven by annual mining logistics constraints in our North American Flat-Rolled segment and lagging spot prices.”

Nucor gives updates on new capacity coming online
Nucor said several of its capital projects will start operations within the next year and provided an update on them.

Algoma swings to loss on ‘market challenges’ and ‘tariff uncertainties’
Canada’s Algoma Steel swung to a loss in the first quarter amid "market challenges," and the company now expects first steel production from its first EAF in the second quarter.

Ternium raises budget for Mexico project
The steelmaker now expects the new steel slab mill in Pesquería will begin operations by Q4’26.

SSAB announces $74M expansion in Alabama
The project will expand heat treat capacity at its Axis, Alabama plant