Shutdown Of Russian Steel Mill In Delaware Could Send A Message About US Trade

Struggling with a rising debt burden of more than $8.2 billion, the Evraz group, owned by Roman Abramovich, Alexander Abramov and Alexander Frolov, has suspended production at its Claymont steelmill in Delaware. The production halt is indefinite. A company announcement from Moscow on Monday says that “due to subdued market demand and the high volume of imports, it will suspend operations at its steel mill in Claymont, Delaware. Over the next two months, about 375 employees will complete processing and shipping of existing products and prepare the mill for idling. EVRAZ will consider restarting the operations as soon as the market conditions improve. Evraz doesn’t expect any adverse financial effect on its operations in North America as a result of this action, and customers of the Claymont mill will be served by other EVRAZ facilities in Portland, Oregon, and Regina, Saskatchewan.”

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