US Steel sees better orders, eyes furnace restart
NEW YORK, June 23 (Reuters) - U.S. Steel (X.N: Quote, Profile, Research) said on Tuesday that it is considering a restart in production in at least one blast furnace is the United States as the company has seen a recent improvement in orders.
"We have seen some modest improvements and higher order rates," John Surma, U.S. Steel chairman and chief executive, said at a conference organized by American Metal Market.
Surma did not give an exact time frame or details of the possible start-up but indicated it could be at Granite City in Illinois.
The global economic downturn has forced most steel makers to reduce production in the facee of slumping demand.
(Reporting by Humeyra Pamuk; Editing by Marguerita Choy)
(New York Newsroom +1 646 223 6040)
© Thomson Reuters 2009 All rights reserved
India Investment Summit 2009
Top executives and bankers discuss their own plans and the broader opportunities and challenges for India. Full Coverage
Dubai Debt Fears
Dubai says it will ask creditors at flagship firms Dubai World and property developer Nakheel to delay repayment on billions of dollars of debt, sending ripples through world stock markets. Full Article
India
US
UK
