Pittsburgh-based steelmaker US Steel announces its decision to restart blast furnace # 4 at its steel mill in Gary Works. Production will resume earlier than expected, mainly due to the recent recovery in steel market conditions. The blast furnace has been shut down since April this year for routine maintenance.
Earlier during a conference call with investors, the company warned that blast furnace # 4 at the Gary Works plant will most likely be idle for at least the end of this year. However, the recovery in the steel market due to the resumption of the activities of automakers prompted the company to announce an early restart of the furnace. The anticipated market competition from Cleveland-Cliffs’ alleged acquisition of ArcelorMittal USA assets also led to this decision.
According to the company’s press release, the blast furnace will resume efficient on December 8 – th . The resumption of manufacturing activities at its Northwest Indiana factories led the company to recall many of its steelworkers. US Steel spokesman Megan M. Cox said the company will continue to assess its employment needs in response to changing market conditions.
Steel demand and prices have been gradually recovering in recent weeks after the fall of Covid-19.