US Steel restarts idled Indiana furnace

Market: Coking coal, Metals, Pipe and tube
16/03/23

Integrated steelmaker US Steel has restarted its last remaining idled blast furnace at its Gary Works steel mill in Indiana.

The company brought back online its 1.5mn short tons (st)/yr No. 8 blast furnace at Gary Works, which had been idled since 7 September 2022, as demand improved.

US Steel blamed high import levels and market conditions when it idled the furnace.

The decision comes about a month after US Steel restarted its idled 1.4mn st/yr No. 3 blast furnace at its Mon Valley Works in Pennsylvania.

The Argus US HRC Midwest and southern assessments rose to $1,150/st yesterday and have risen by 83pc since hitting a recent low in late November.

By Rye Druzin

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