Supply chain disruptions won’t weigh them down
Amid global turmoil surrounding the disruption of supply chains, particularly of those relating to raw materials, United States Steel Corporation has announced a multimillion-dollar investment in their Gary Steel Works plant to establish a pig iron caster which will produce 500,000 tons of pig iron to be used as inputs in the company’s electric arc furnaces. Iron ore mined from the company’s Minnesota Ore Operations will be used in the Gary caster. Overall, the increase I operational efficiency by being insulated from global price swings is expected to have significant bottom line synergies for the company, boosting profitability.
New ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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