Final Thoughts

First, a correction or clarification from an article done last week about US Steel idling one of their tin plate mills. We understand that USS has tin mill operations in Gary as part of the Gary Works, they also have a plant in Portage, IN which is part of the old National Steel facility and one is in East Chicago, Indiana which was part of LTV and was acquired by USS prior to LTV going bankrupt. It is the East Chicago facility that US Steel is idling, not the plant at Gary Works. The WARN notice to employees is calling for a mid-March shutdown.

One of our Asian steel and iron ore sources told SMU over the weekend that they had driven through the “ghost town” city located in Tianjin which is one of the financial capitals in China. CNN reported on the city in a report published on January 19, 2015. Click here to see the full report.