U.S. Steel Corp. said it will temporarily idle an Illinois plant as it consolidates its North American flat-rolled steel operations, reflecting weakened demand from the energy sector.
The steelmaker said idling the plant will affect roughly 2,080 employees at the Granite City, Ill., operation. The jobs are separate from those related to a permanent shutdown of the Granite City Works coke-making plant.
The North American flat-rolled steel operations supply U.S. Steel’s Lone Star, Texas, business that makes pipe and specialty tubular products for the oil and gas industry.
The Pittsburgh, Pa.-based company said it will continue to operate its steelmaking plants in Alabama, Indiana, Michigan and Pennsylvania.
The plant idling is the latest in a series of retrenchments by the 114-year-old steelmaker as it attempts to navigate rough waters for the industry in the U.S., and pursue a longer-term strategy of repositioning itself as a smaller, more nimble steel company.
Like other U.S.-based steelmakers, U.S. Steel is trying to cope with a strong dollar that makes imports cheaper, weak oil prices that are hurting the market for energy-related steel, and a surge in exports from China.
Source: The World Steet Journal
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