U.S. Steel Idling Blast Furnaces

U.S. Steel is idling two blast furnaces due to market conditions. U.S. Steel is idling two blast furnaces due to market conditions. |  Photo: Courtesy: U.S. Steel

Updated: June 19, 2019 02:55 PM

U.S. Steel is idling two blast furnaces in the Midwest and one in Europe, due to changes in market conditions. According to their earnings statement, the two furnaces are at Great Lakes in Detroit and Gary Works in Indiana. This is in order to better align their global production with their order book.

Advertisement – Content Continues Below

CEO Dave Burritt said in a letter, "The company does not take decisions like these lightly, and while we currently anticipate there will be no immediate impact on employment levels, we're mindful of the impact these announcements have on our employees and their families." He went on to say that prices have fallen dramatically and there have been significant changes to the 2019 forecast for certain markets, like automotive.

U.S. Steel owns and operates Minntac in Mt. Iron and Keetac in Keewatin, and has partial ownership of Hibbing Taconite.

A statement from U.S. Steel on Wednesday said, "Based on current market conditions, there are currently no plans to adjust our Minnesota iron ore mining operations."

Copyright 2019 WDIO-TV LLC, a Hubbard Broadcasting Company. All rights reserved


Grand Rapids Woman Dies After Being Hit by Car

Wisconsinites Unite for 829th Soldier Sendoff Ceremony

Minnesota Authorities Searching for 'Habitual Runaway' Emu

The DNT Reports: Minnesota Prisons Log Record Overtime

9-Year-Old Girl Finds Alligator in Twin Cities Lake

First Annual Fall Fest Celebrates Duluth Church's 130th Anniversary