United States Steel Corp. said it plans to add 1.6 million tons of steelmaking capacity next year by resuming the construction of a new furnace in Alabama as tariffs on foreign metal raise profits on domestic steel. The furnace at U.S. Steel’s mill near Birmingham is the company’s second major expansion since U.S. tariffs on imported steel last March raised steel prices and reduced the flow of foreign steel into the U.S. The Pittsburgh-based company restarted a pair of blast furnaces last year at its mill near St. Louis that...

Source: Wall Street Journal February 11, 2019 14:00 UTC