US Steel to idle 3 blast furnaces as market conditions cool

PITTSBURGH — United States Steel Corp. will temporarily idle three blast furnaces, including two in the Midwest, and cut production of flat-rolled steel as market conditions soften.

U.S. Steel (NYSE: X) said late Tuesday it would keep idled the Great Lakes B2 blast furnace, which began a planned outage last week, after the work is completed. Another blast furnace, this at the Gary Works facility, will be idled temporarily. Both could be idled for the rest of the year, which will cut production starting in July by between 200,000 and 225,000 tons. It said the blast furnace adjustments will be temporary but are to align production with its orders.

It said flat-rolled steel sales are being hit by lower prices and lower demand, as well as shipments in the second quarter being lower due to flooding in the South.

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