Pittsburgh—US Steel on Friday said it plans to idle multiple furnaces and slash capital expenditures by $125 million, delaying some projects, to prioritize cash and liquidity in order to better serve customers. The company said it will immediately idle the No. 4 blast furnace at its flagship Gary Works in Indiana to begin a planned outage that was originally planned to begin in April and last 48 days. "The scope of the current outage has been reduced and the remainder of the Gary No. 4 blast furnace outage is being delayed," US Steel stated, adding that the furnace is expected to remain idled until “market conditions improve.”
展开▼
