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U.S. Steel Plans To Restart Idle Blast Furnace Converter

- Mar 21, 2018 -



                                U.S. Steel plans to restart idle blast furnace converter


 

            U.S. Steel announced a few days ago that the president is prepared to restart a steelmaking facility in Illinois and one of two idle blast furnaces because of the president’s commitment to levy tariffs on foreign steel.

 

           The American Steel Corporation was founded in 1901 and is headquartered in Pittsburgh, Pennsylvania. The company's predecessor was Carnegie Steel, which was founded in 1864. Since then, it has been formed by the merger of more than a dozen companies such as Carnegie Steel and United Iron and Steel Corporation. It has annexed more than 50 companies, and has controlled 65 US steel production. %. According to U.S. media reports, as long ago as Trump announced the steel tariff plan, the U.S. steel industry has embarked on the road to recovery. Data shows that the price of hot-rolled steel produced in the United States has reached its highest peak since May 2011. According to the statistics of the US Department of Commerce, the US steel industry as a whole showed a loss in 2015, but in 2016 it changed to a profit of 714 million U.S. dollars, and last year's profits increased to 2.8 billion U.S. dollars. The most important reason for the recovery of the U.S. steel industry in recent years is the simultaneous recovery of the global economy and the recovery of market demand. At the same time, its efficiency and physical fitness are also the key to success in recent years. 


        The United States is the world’s largest steel consumer market. In 2017, it imported more than US$29 billion worth of steel. The largest import source is Canada with a market share of 17%, followed by South Korea, Mexico, Brazil, and China.