Slovak US Steel Kosice will operate on a reduced schedule until the end of the summer

The Slovak steel company US Steel Kosice (USSK) will work on a reduced schedule until the end of summer due to equipment maintenance. Kallanish reports about it with the reference to company data.

The shortened working day was introduced amid scheduled repairs of production units, including the blast furnace.

«Typically, the slowdown in business activity in the summer makes the summer the best time to perform maintenance,» the company notes.

In January-March 2023, US Steel Kosice reduced steel shipment by 20% compared to the same period in 2022 – to 883,000 short tons. Steel production during this period increased by 0.3% q/q and by 85% y/y – up to 1.09 million tons. Load capacity of the plant’s production capacity in the first quarter was 89%.

This year USSK plans to increase steel shipments by 1-20% compared to the previous year – up to 3.8-4 million tons.

As GMK Center reported earlier, in 2022, US Steel Kosice reduced steel shipments to customers by 13% compared to 2021 – to 3.76 million tons. Steel production amounted to 3.84 million tons, which is 22% less y/y. The utilization of production capacity fell to 77% against 99% a year earlier.

At the beginning of September 2022, US Steel Kosice temporarily stopped one of the blast furnaces amid high energy costs and lack of demand for steel in Europe. In December, the company shut down another blast furnace, leaving only one unit in operation.

Already in January 2023, the Slovak company resumed work previously stopped furnaces. Capacities began to be launched against the background of rising European prices for hot-rolled coils, as well as increased demand due to replenishment of stocks by service centers in Europe. The total capacity of the plant’s three blast furnaces is estimated at 4.5 million tons of steel per year.