A company official for Pittsburgh-based US Steel Corporation's Serbia subsidiary told press Friday that the company plans to idle its two blast furnaces in Smederevo, Serbia beginning in January, thus drastically reducing production.
US Steel Serbia spokesperson, Nemanja Brkovic, said the decision was made as the direct result of the falling demand for steel, caused by the global economic crisis. There was no comment on when the blast furnaces would resume production.
US Steel Serbia, which primarily produces sheet products, is Serbia's largest exporter.