U.S. Steel cites high steel imports, dumping and low steel prices
MINNEAPOLIS—U.S. Steel plans to idle part of its Minntac plant in northeastern Minnesota, resulting in layoffs for about 680 workers.
It’s the latest symptom of the downturn in the American steel and iron mining industry. U.S. Steel cites high steel imports, dumping and low steel prices.
U.S. Steel spokeswoman Courtney Boone says the layoffs at the Minntac plant in Mountain Iron are temporary, but the company can’t speculate how long they’ll last. Mountain Iron is about 200 miles north of Minneapolis.
Earlier this month U.S. Steel said it would idle its Keetac plant in Keewatin effective May 13, resulting in 412 workers laid off. And Magnetation announced in February that it was shutting down its Keewatin plant, resulting in about 20 job losses.