Granite City Works still at risk for closure, U.S. Steel CEO says

The U.S. Steel facility on the eastern edge of the St. Louis metro area, the Granite City Works houses facilities for producing hot-rolled, cold-rolled and coated sheet steel products. | Courtesy of U.S. Steel Works
U.S. Steel Corp. is not ruling out a temporary closing of Granite City Works, which employs nearly 2,000 workers. | Photo courtesy of U.S. Steel Works

United States Steel Corp. is still considering temporarily closing Granite City Works, company officials indicated Wednesday.

In a conference call with stock analysts, CEO Mario Longhi said the “potential idling” of the area steel mill was part of the company’s ongoing adjustment to falling orders and prices for steel.

U.S. Steel’s stock plunged 14.5 percent Wednesday to close at $11.06 after Tuesday’s announcement of a loss of $173 million, or $1.18 a share, in the third quarter.

U.S. Steel said a month ago that it was considering a temporary shutdown at the Granite City mill, which employs nearly 2,000 workers.

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