ArcelorMittal to Idle Blast Furnaces in Indiana, Canada

By Bob Tita

Steelmaker ArcelorMittal S.A. plans to idle blast furnaces in Indiana and Canada as coronavirus pandemic weakens demand for steel in North America.

The Luxembourg-based company, which is the world's largest steelmaker by production, said on Monday that it will turn down a furnace at its Indiana Harbor Works, in East Chicago, Ind., and another at its Dofasco mill in Hamilton, Ont.

The shutdown will leave just one furnace operating at the sprawling Indiana Harbor Works. The company idled another furnace at that mill in November. ArcelorMittal said it is working with the United Steelworkers Union to transfer dislocated workers to other available jobs. ArcelorMittal has said there will be no jobs affected by the Dofasco shutdown.

Automakers late last week closed their assembly plants in North America for at least a week because of the virus. ArecelorMittal said it hasn't ruled out additional shutdowns at its mills as it aligns production with reduced demand for steel. The company said last week that it is reducing production at several of its European mills because of the pandemic.

Write to Robert Tita at [e-mail]

(END) Dow Jones Newswires

March 23, 2020 13:07 ET (17:07 GMT)

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