US Steel plans to invest more than $50 million in its Gary Works steel mill this year, the company said during its quarterly review conference call.
"We are seeing a more bullish sentiment in the markets served by our Flat-Rolled and European segments right now, as prices have been increasing and overall demand has been stable," said US Steel Chief Executive Officer David Burritt.
Additionally, US Steel plans to invest $200 million to $250 million in maintenance projects this year, along with significant investment in blast furnaces, hot strip mills, cold mill and finishing unit, BOPs, QBOPs and slab casters at its mills, including Gary Works, through 2020.
Earlier this year, the company invested $23 million restoring hot strip mills at Gary Works to improve reliability, quality and product capability. The new investments at the facility will include $6 million in capital improvements to the Gary Works Casters A Line Turret Bearing and $1 million in the Gary Works 84” Pickle Waste Liquor Line.