Shale gas fuels Ohio steel industry’s renaissance from both ends

Because the boom in oil and gas drilling across the United States is driving up demand for pipe, steel companies are “investing an estimated billion dollars in mills in Youngstown, Lorain and Canton,” Marketplace reports. Vallourec & Mannesmann is building a $650 million mill near its existing Youngstown operation; United States Steel opened a $100 million mill at its Lorain plant last year; and The Timken Company is building a $200 million addition to its Canton plant. Not only is demand for steel pipe from domestic oil and gas operations driving the industry, but also the availability of low-cost energy in the form of domestic natural gas, which is helping the United States regain its competitive edge with the “traditional energy-intensive industries,” the article said.

Ohio