US Steel Blast Furnace ‘Saved’ by Trump Now Idled on UAW Strike
- US Steel says it’s temporarily idling furnace at Granite City
- Company forecasts higher than expected quarterly earnings
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US Steel Corp. is idling an Illinois blast furnace that Donald Trump visited as part of his self-proclaimed “rescue” of the American steel industry five years ago, as it moves to balance production levels against the demand impact from customers affected by the United Auto Workers strike.
The Pittsburgh-based company said it decided to temporarily idle blast furnace “B” at its Granite City Works plant to ensure steel output is balanced with its order book. US Steel also said it expects third-quarter adjusted earnings of about $550 million, higher than the $485.6 million average estimate of analysts, which it said factors in the impacts of the UAW strike.