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US Steel plans 2nd blast furnace restart at Granite City Works

U.S. Steel Corp. will restart the second blast furnace at its Granite City Works property in Illinois by Oct. 1.

The company is already on track to restart the first of the two blast furnaces at the site.

The restart of the blast furnace will help meet the increased demand for U.S. made steel and will allow the company to continue to serve customers during planned asset revitalization efforts, it said June 5.

The company will hire about 300 employees for the site restart, which will support increased shipments beginning in the fourth quarter.

U.S. Steel first announced plans to restart the steelmaking facilities and one of two blast furnaces at Granite City Works following President Donald Trump's March announcement that the U.S. will tax imports of steel at 25% and imports of aluminum at 10%.

Granite City Works' blast furnaces and steelmaking facilities were idled in December 2015 and the plant's hot strip mill was idled in January 2016 due to challenging market conditions.

U.S. Steel now expects its full-year EBITDA at or near the top end of its previously announced range of between US$1.7 billion and US$1.8 billion. The company reiterated a second-quarter EBITDA forecast of approximately US$400 million.