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 WilliamsRead more from Sandy Williams
Latest in Steel Mills
AISI: Raw steel output edges down
Domestic production of raw steel declined slightly last week, moving down for the first time in six weeks, according to the most recent data from the American Iron and Steel Institute (AISI).
Goncalves blames USS for ITC tin products decision, USS fires back
Cleveland-Cliffs CEO Lourenco Goncalves said he blames U.S. Steel’s lack of participation in the tin mill products trade case for an unfavorable US International Trade Commission (ITC) decision.
Nucor slashes plate prices by $90/st
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its April order book.
USW remains skeptical of USS acquisition despite Nippon’s promises
The United Steelworkers union expressed a lack of trust in assurances from Japan’s Nippon Steel Corp. (NSC) regarding its proposed buy of U.S. Steel.
Biden admin scrutinizing Nippon Steel’s Chinese ops in USS deal: Report
Nippon Steel Corp.’s (NSC) operations in China are a potential security concern of the Biden administration, according to a Bloomberg report citing anonymous sources close to the matter.