U.S. Steel (Photo credit: Wikipedia)
Production halts at U.S. Steel’s two largest mills could dent what is usually a good quarter for the Pittsburgh steelmaker and lead to higher steel prices.
On Wednesday, U.S. Steel informed customers of its Gary, Ind., mill that it was curtailing blast furnace and steelmaking operations at that plant because icy conditions on the Great Lakes are delaying shipments of iron ore from its Minnesota mines. The letter gave no word on how long those delays could last but was hopeful that shipments will improve with warming temperatures.
“It is possible that our ability to timely fill your orders will be temporarily impacted,” the company wrote, adding that it is trying to mitigate any impact of customers.
The announcement follows an incident last week at U.S. Steel’s Great Lakes mill near Detroit that forced the company to halt steel production there. Media reports indicate a large pipe damaged the roof covering one of its steelmaking furnaces.
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Additional story: http://www.philly.com/philly/business/homepage/20140405_ap_a889ebee36a145ab8b177a5801db63ef.html