When the global economic collapse occurred in 2008 it was bearly noticed by Ford Motor company. Ford, when the interest rates were zero borrowed in order to protect the future and be ready for growth. If one takes a ride on I-75 north near Monroe, Michigan there will be two huge smokestacks reaching into the sky. That is the Ford Raisin River Warehouse. There are acres and acres at that warehouse lined with rolls of steel ready for use by Ford assembly plants.

The point is, there are large amounts of steel stored in factories all over the USA. I am sure US Steel is aware of that. It may be US Steel believes that if these large steel inventories are used and the demand picks up they will need their workers back again. If that doesn't occur, the layoffs will probably be more permanent.

Before 2018 the steel exports from the USA picked up but then fell off again. It appears the steel exports and steel production are on a roller coaster as well.

Steel Exports Report - September 2018 (click here)

August 22, 2019