U.S. Steel Postpones Construction Of New Production Facility Due To Challenging Business Conditions

U.S. Steel has shelved plans to construct a 1.6 million ton electric arc furnace at its Fairfield Works facility in Albama, a move that we feel is consistent with the adverse business conditions facing the domestic steel industry. The company is confident that it can meet the subdued demand for steel with its existing production capacity and will proceed with the construction of the EAF only if market conditions improve. U.S. Steel's domestic steel shipments have fallen drastically this year as the domestic steel industry battles competition from steel imports and low demand for tubular steels as a result of weak oil prices.
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