Pittsburgh-based U.S. Steel Corp. (NYSE: X) is idling its No. 8 blast furnace at the Gary Works facility. The steelmaker tells our partners at The Times of Northwest Indiana the decision was made due to current market conditions, including high import levels.
Spokesperson Amanda Malkowski says the company will continue to monitor market conditions and plans to bring the blast furnace back online “when business conditions allow.”
Malkowski adds no employees are being laid off as a result of the move and are being assigned to other areas at Gary Works.
The blast furnace is capable of producing up to 1.5 million tons of iron annually, according to the publication.
The move comes less than a month after U.S. Steel idled its No. 5 tin line at Gary Works. Current market conditions were also cited for that decision.
You can read the full story from The Times of Northwest Indiana by clicking here.