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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.