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US Steel Postpones CRNGO Investment in Košice-2020 China(Guangzhou)Int’l Metal & Metallurgy Exhibition-metal exhibi
tion
1/3/2020 金属展-冶金展-钢铁展-steel expo-metal &metallurgy expo- |
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The Spectator reported that as a consequence one of three blast furnaces in the steelmaker US Steel Košice remains idle and some planned investments are being postponed. US Steel Corporation in its outlook report for the fourth quarter said “Economic indicators in the region suggest difficult market conditions are likely to continue in 2020. Based on this assessment, one of the three blast furnaces remains idle and the company has postponed the dynamo line investment spending in 2020.”
The corporation does not specify until when the investment will be postponed, while it promises to continue to be flexible and execute the investment as market conditions warrant.
In mid January 2019, USSK announced an investment of USD 130 million in a new non-grain oriented electrical steel line, also called a dynamo line, in Košice. Its production capacity is projected at 100,000 tons per year. Its construction was to start. The new line was to enable production of sophisticated silicon grades of NGO electrical steels to support increased demand in vehicles and generators.
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