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U.S. Steel Firing Up Furnace in Alabama, Thanks to Tariffs

United States Steel said Monday it will resume construction of a furnace in Alabama, adding 1.6 million tons of steelmaking capacity and hundreds of jobs.
Construction on U.S. Steel’s mill in Jefferson County, Alabama, was suspended in 2015 after China’s overproduction caused a global steel glut that sent prices plummeting. The tariffs the Trump administration imposed last year have reduced the flow of foreign steel in the U.S. and allowed domestic makers to expand again.
U.S. Steel Chief Executive Officer David Burritt said in a statement:
Thanks to the President’s strong trade actions and improved market conditions, support from the United Steelworkers and incentives from the State of Alabama and the Jefferson County Commission, we are excited to add EAF capabilities to our company’s footprint and provide sustainable tubular solutions for our customers.
EAF refers to “election arc furnaces,” which make steel from scrap metal instead of iron ore. They are considered more energy efficient than traditional blast furnaces and can be restarted once shut down. Older furnaces often had to be retired once they were shut down.
The Alabama plant will be the company’s second major expansion following the imposition of steel tariffs. The company restarted two blast furnaces at its mill near St. Louis last year.
U.S. Steel said the electric furnace and related casting equipment will cost about $215 million and will add about 150 workers to the existing 750-person workforce.
The market for tubular steel is closely tied to the U.S. energy market because the products are used at oil and natural gas wells. The tariffs have cut foreign supply while a recovery in energy prices has boosted demand.

Source: https://www.breitbart.com/economy/2019/02/11/u-s-steel-firing-up-furnace-alabama-thanks-tariffs/

Awesome!

Good Deal !!!

Tired of winning? ...Me neither.

The train Keeps on rollin...

I worked at Steel plant in gadsden in the 90s . It went under so I went to work for the railroad. Now that i work for myself trapping for a living, I wished i had went in the ADC bussiness sooner

Trump's fault?

Maybe they will be expanding the tall steel fence building materials.

that is good news. country cant run without steel. we need to make our own again.

hope some textile manufacturing comes back. we grow a lot of cotton but can no longer make cotton cloth or tshirts and jeans. produce a lot of cattle too. but the hides go to china and come back as boots. need to reopen tanneries and boot-shoe factories

^^^^^^^^^
That’s what I thought too!

That's the old Fairfield Works where my grandfather worked open hearth and my father worked the front office after college. I was born in the company hospital, Lloyd Noland.
Long history there.

Great!

There is, of course, the flip side of higher steel input costs, due to tariffs, for all of our industries that use steel.

Was a big steel mill on the South side of Chicago called Acme steel I always thought that was where the coyote shopped at.

Lol!

And when trump leaves office.. guess what. And even excluding that, stock in some of the largest steel mills in the USA have declined by 1/2 . There is a glut of steel on the market, and the future looks even worse.


I would love to know the thinking behind these companies starting up the steel mills, knowing in 6 years, it will be back to normal, or worse

If it cost to much to make something in the USA out of steel, you get it made elsewhere. Canada buys steel from china, makes stuff, then we import it from there. You can't stop the free market.

The world is not going to give us brownie points just because of our tarrifs

Doubt Ivanka would do that to her fathers legacy .

War machines are made of steel. It is in our National interest to have more than we need. LLL

Excellent, same line of work I do. I operate a electric furnace but for platinum and palladium. Hot and dusty gassy work but good $$$$ and excellent benny's.

Steel is a strategic material and we must maintain the ability to produce at least minimum strategic amounts of it. The production of it also requires several types of raw material that will employ miners again. One more thing is being able to control the quality.

I wonder if they will be able to keep a workforce? or will it be like the rest of the country and have to rely on migrant workers.

Making America Great Again!

Main reason is we need quality steel. Yes China will always be cheaper priced, but the quality is just as cheap or nonexistent . Back in 2000 when manufacturing took a giant dump, shops laid off or completely went out of business because China promised way cheaper prices products. It took 19yrs, but that work is coming back because China cannot produce the quality needed.

X2 iron ore mines need to get going again, the smelter I work at us to get taconite (iron ore) from north minn. Mines but have trouble getting it now. Now they buy anaconda slag by the truck load , works ok but furnace runs hotter and is smokey when slagging off.

dang trump is just ruining.....wait. oh nevermind lol

We won WWII because we had everything we needed and could get what we did not have and the skilled labor to make what we needed but with us being dependent on other countries for our daily needs it just puts us in a bad position.

Just remember how it was sold as a good idea for the Country and the only ones that benefited by sending our jobs overseas was the idiots telling us it was a good idea.

Just retired few months ago with 40 years in the Steel Workers Union.Go Trump!!!!

There's a rolling mill at that site and Bham has a long history of steel plants.

That and the tax breaks for these large companies. High corporate taxes are what drove many of them out of the country.