Conditions on the European steel market remain weak. As a consequence one of three blast furnaces in the steelmaker U.S. Steel Košice (USSK) remains idle and some planned investments are being postponed, U.S. Steel Corporation writes in its outlook report for the fourth quarter.
“Economic indicators in the region suggest difficult market conditions are likely to continue in 2020,” the corporation writes in its press release. “Based on this assessment, one of the three blast furnaces remains idle and the company has postponed the dynamo line investment spending in 2020.”
The corporation does not specify until when the investment will be postponed, while it promises to continue to be flexible and execute the investment as market conditions warrant.
27. Dec 2019 at 14:02 | Compiled by Spectator staff