This Morning in Metals: U.S. Steel Responds to City of Chicago

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This morning in metals news, U.S. Steel issued a press release in response to Chicago Mayor Rahm Emanuel’s comments regarding the company’s dumping of toxic materials into Lake Michigan, Japanese steel output was down in October and Glencore‘s head of copper stepped down after an internal review.

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U.S. Steel Responds to Mayor Emanuel

Following Chicago Mayor Rahm Emanuel’s comments Sunday regarding U.S. Steel’s dumping of toxic chromium into Lake Michigan — including plans to sue the company — the company issued a response.

“U. S. Steel is committed to complying with all environmental standards, to ensuring the safety of our employees and our neighbors in the communities in which we live and operate, and to safeguarding our shared environment.  We take that responsibility very seriously and recognize this as a critical aspect of our role as a member of each community in which we operate.  We also take every incident seriously.  We have worked with appropriate government agencies in the past as effectively as possible and continue those efforts as part of our work to continuously improve our environmental compliance processes.”

“With regard to the October 26 operating excursion at our Midwest Plant, we want to reiterate the event did not pose any danger to water supply or human health, and we promptly communicated the issue to the Indiana Department of Environmental Management (IDEM).”

The City of Chicago plans to sue to company after the latest dumping incident in October. According to the Chicago Sun-Times, city attorneys began proceedings required by the Clean Water Act in order to file suit against U.S. Steel.

The company also had a chemical spill at its Portage, Indiana facility in April. Hexavalent chromium was released into a waterway about 100 yards from Lake Michigan.

Japanese Steel Output Down

According to Reuters, Japan’s crude steel output fell 1% in October from a year earlier to 8.97 million tons.

Temporary halting of production at some facilities contributed to the drop, according to the report.

Glencore Copper Head Steps Down

Glencore’s head of copper has stepped down on the heels of an internal review, Bloomberg reported.

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Aristotelis Mistakidis, the copper head, and executives Liam Gallagher and Tim Henderson offered to step down after an internal review found “material weaknesses” in financial reporting controls at the firm’s Katanga Mining Ltd. operation in the Democratic Republic of Congo.

The internal review found that the com,any overstated copper output in 2014 by about 7,900 metric tons and failed to disclose additional compensation paid to named executive officers, according to the report.

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