Coronavirus not yet hurting steel production, U.S. companies say

U.S. steelmakers say they have not yet seen an impact on production from the global coronavirus outbreak, S&P Global Platts reports.

U.S. Steel (NYSE:X) is not experiencing problems in the U.S. with essential materials, the company says, adding that “while we see no signs of delivery issues, we have contingency plans in place.”

Steel Dynamics (NASDAQ:STLD) says it has researched its supply chains and believes the company is well positioned with primary suppliers and tertiary suppliers to ensure operations.

Republic Steel (NYSE:RS) also says the virus has not affected its production.

U.S. Steel says the coronavirus outbreak highlights “a primary reason why we believe a strong domestic steel industry is needed… Products that are made and used domestically are more sustainable since they avoid national security risks, supply disruptions and the environmental cost of transoceanic shipment.”

https://seekingalpha.com/news/3551719-coronavirus-not-yet-hurting-steel-production-u-s-companies-say