US-based steelmaker US Steel Corporation has announced that it has reached agreements to supply iron ore pellets to third-party customers.
The company stated that it will adjust its iron ore pellet production in order to take full advantage of these business opportunities. Accordingly, it will restart its Keetac Plant in Keewatin, Minnesota. Employee callbacks at Keetac will begin in early January 2017, and the company anticipates that the production will begin in March 2017.
US Steel’s Keetac Plant, which has an annual production capacity of approximately six million net tons, has been temporarily idled since May 2015 due to global influences in the market, including high levels of imported steel products, unfair trade and reduced steel prices.