Further configuration of production will depend on market conditions
Slovak steel producer US Steel Kosice (USSK), a subsidiary of US Steel, plans to shut down one blast furnace for routine maintenance in August 2024. This was reported by Fastmarkets with reference to the company representative.
The USSK spokesman did not specify which unit will be stopped and for what period. According to him, the further configuration of production depends on the development of market conditions. However, in any case, the steel producer will satisfy customer requirements as much as possible.
US Steel Kosice has three blast furnaces with a total capacity of about 4.5 million tons of pig iron per year. According to the representative of the company, all three are working.
In March 2024, blast furnace No. 2 was stopped for planned maintenance at the steel plant – it resumed operation in June.
USSK produces hot-rolled, cold-rolled and hot-dip galvanized coil. The economic situation in the European flat rolled market, where the company operates, notes Fastmarkets, has worsened in recent months and steel prices have been under pressure. Since May, prices for steel coils in Europe have remained mostly stable despite attempts by steelmakers to increase supply.
As reported earlier, US Steel Kosice in the second quarter of the current year reduced steel shipments by 15% year-on-year – to 875 thousand short tons, steel production decreased by 19% y/y – up to 980 thousand tons. In H1, USSK increased shipments by 1.6% y/y – up to 1.95 million short tons.
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