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
BREAKING NEWS: Cliffs plans to idle three mills, cut 950 jobs on ‘insufficient demand and pricing’
Cleveland-Cliffs plans to indefinitely idle its steel mill in Riverdale, Ill., as well as mills in Conshohocken, Pa., and Steelton, Pa. The Cleveland-based steelmaker said all three facilities would be idled on or around June 30. Approximately 950 jobs will be impacted, the company said.
CRU: Usiminas may reduce capex unless government strengthens protection
“The lack of effective measures to create fair competition, amid a surge in subsidized imports, is the main threat to the sustainability of Brazil’s steel industry and its value chain,” CEO Marcelo Chara said.
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.