U.S. Steel aims to increase shipments despite idling plants and conducting $1.5 billion in repairs
Falling steel prices are adding pressure to United States Steel Corp.’s plan to get better performance from its mills by making overdue repairs and equipment upgrades.
The Pittsburgh-based company is idling two steelmaking blast furnaces next month in response to lower demand from manufacturers and a year-long slide in prices. U.S. Steel has scaled back its projected steel shipments this year but is still counting on a 5% increase from last year to 11 million tons.
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