Liberty Steel temporarily shutters Peoria wire mill

Liberty Steel, a steel major in the UK, has temporarily closed its wire mill in Peoria, Illinois, effective December 6, due to ongoing financial difficulties. Over 500 employees have been furloughed as part of the shutdown, according to local media outlet Peoria Journal Star.

The temporary closure is a response to significant financial challenges faced by the company, including mounting debts and a tough steel market characterized by low prices and an influx of inexpensive imports. A company spokesperson indicated that the mill is expected to reopen in early February, contingent on market