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Released September 18, 2019 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--The U.S. Metals & Minerals Industry is facing some of its toughest headwinds in years, as trade-related disputes and a slowing global economy have battered prices for steel, aluminum, copper and related commodities. Major industry players could be looking at a prolonged period of reduced capital spending, which would prioritize upkeep of their existing assets. Industrial Info is tracking more than $145 million in maintenance-related projects that are set to begin in the fourth quarter at facilities in the U.S. Metals & Minerals Industry, the majority of which are in steel production or metal rolling and fabrication.
Click on the image at right for a graph detailing the top 10 U.S. states for Metals & Minerals maintenance projects that are set to kick off from October through December.
The Great Lakes region, often seen as the epicenter of domestic aluminum and steel production, leads all other U.S. regions with roughly one-third of the total investment value for fourth-quarter turnarounds. Among the top-tier companies with maintenance projects in the area is ArcelorMittal (NYSE:MT) (Luxembourg, Luxembourg), which is planning weeklong shutdowns at its steel mill in Riverdale, Illinois, and its steel-galvanizing plant in Columbus, Ohio. For more information, see Industrial Info's reports on the Riverdale and Columbus projects.
ArcelorMittal is among the steel producers facing renewed challenges in the steel market. Although the Trump administration's tariffs on imported steel bolstered the domestic market for many months following their announcement in March 2018, market conditions have slowed significantly this summer as demand declined amid a cooling global economy. Heavy production from 2018 and earlier this year may have caused a glut in production, as steel prices have dropped sharply.
Partly in response to these conditions, as well as high levels of low-priced imported tin, ArcelorMittal recently announced it expects to lay off 100 workers at its tin mill in Weirton, West Virginia, and it will consider selling its downstream construction business. Industrial Info is tracking 2020 and 2021 maintenance programs at the Weirton plant, which produces tin cans for the Food & Beverage Industry. For more information, see Industrial Info's project reports on the 2020 and 2021 programs.
United States Steel Corporation (NYSE:X) (U.S. Steel) (Pittsburgh, Pennsylvania) also is looking at layoffs, including 150 employees at a tin plant in East Chicago, Indiana, that it expects to close by the end of November, and about 200 employees at its Great Lakes Steel Works facility in Ecorse, Michigan, where it idled a blast furnace earlier this summer. Both the layoffs and idling at Ecorse are expected to be temporary, and U.S. Steel is continuing with yearlong maintenance programs at the rolling mill and melt shop for 2019 and 2020. For more information, see Industrial Info's project reports on the 2019 and 2020 rolling mill and 2019 and 2020 melt shop turnarounds.
By early November, U.S. Steel expects to complete normal inspections and repairs at its hot-dip steel-galvanizing plant in Fairless Hills, Pennsylvania. Moody's Investors Service recently cut U.S. Steel's credit rating, noting that declining steel demand and prices make it unlikely that the company will be able to pay for recent capital-spending plans at its plants in Pennsylvania, according to The Philadelphia Inquirer. Moody's said there is "no impetus for material steel price improvement in the U.S." and weak demand for steel pipes. For more information, see Industrial Info's project report.
Elsewhere in the Metals & Minerals Industry, cement manufacturers are looking at about $21 million in fourth-quarter maintenance kickoffs, including Ash Grove Cement Company's (Overland Park, Kansas) turnaround at a plant in Clancy, Montana, and LafargeHolcim Limited's (Jona, Switzerland) turnaround at a plant in Alpena, Michigan. Both are expected to wrap up next spring. For more information, see Industrial Info's reports on the Clancy and Alpena projects.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
Click on the image at right for a graph detailing the top 10 U.S. states for Metals & Minerals maintenance projects that are set to kick off from October through December.The Great Lakes region, often seen as the epicenter of domestic aluminum and steel production, leads all other U.S. regions with roughly one-third of the total investment value for fourth-quarter turnarounds. Among the top-tier companies with maintenance projects in the area is ArcelorMittal (NYSE:MT) (Luxembourg, Luxembourg), which is planning weeklong shutdowns at its steel mill in Riverdale, Illinois, and its steel-galvanizing plant in Columbus, Ohio. For more information, see Industrial Info's reports on the Riverdale and Columbus projects.
ArcelorMittal is among the steel producers facing renewed challenges in the steel market. Although the Trump administration's tariffs on imported steel bolstered the domestic market for many months following their announcement in March 2018, market conditions have slowed significantly this summer as demand declined amid a cooling global economy. Heavy production from 2018 and earlier this year may have caused a glut in production, as steel prices have dropped sharply.
Partly in response to these conditions, as well as high levels of low-priced imported tin, ArcelorMittal recently announced it expects to lay off 100 workers at its tin mill in Weirton, West Virginia, and it will consider selling its downstream construction business. Industrial Info is tracking 2020 and 2021 maintenance programs at the Weirton plant, which produces tin cans for the Food & Beverage Industry. For more information, see Industrial Info's project reports on the 2020 and 2021 programs.
United States Steel Corporation (NYSE:X) (U.S. Steel) (Pittsburgh, Pennsylvania) also is looking at layoffs, including 150 employees at a tin plant in East Chicago, Indiana, that it expects to close by the end of November, and about 200 employees at its Great Lakes Steel Works facility in Ecorse, Michigan, where it idled a blast furnace earlier this summer. Both the layoffs and idling at Ecorse are expected to be temporary, and U.S. Steel is continuing with yearlong maintenance programs at the rolling mill and melt shop for 2019 and 2020. For more information, see Industrial Info's project reports on the 2019 and 2020 rolling mill and 2019 and 2020 melt shop turnarounds.
By early November, U.S. Steel expects to complete normal inspections and repairs at its hot-dip steel-galvanizing plant in Fairless Hills, Pennsylvania. Moody's Investors Service recently cut U.S. Steel's credit rating, noting that declining steel demand and prices make it unlikely that the company will be able to pay for recent capital-spending plans at its plants in Pennsylvania, according to The Philadelphia Inquirer. Moody's said there is "no impetus for material steel price improvement in the U.S." and weak demand for steel pipes. For more information, see Industrial Info's project report.
Elsewhere in the Metals & Minerals Industry, cement manufacturers are looking at about $21 million in fourth-quarter maintenance kickoffs, including Ash Grove Cement Company's (Overland Park, Kansas) turnaround at a plant in Clancy, Montana, and LafargeHolcim Limited's (Jona, Switzerland) turnaround at a plant in Alpena, Michigan. Both are expected to wrap up next spring. For more information, see Industrial Info's reports on the Clancy and Alpena projects.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
