“Given the current challenging market conditions, we have made the difficult decision to temporarily shut down steelmaking operations at Warren Steel Holdings,” the company said in a statement, according to The (Youngstown, Ohio) Vindicator newspaper.

“Our current expectation is to restart production sometime in the first quarter of 2016, contingent on market and business conditions at that time.”

The closure is to take effect by the end of November. About 150 employees will be affected by the decision, according to the newspaper.

“This is directly tied to steel dumping and how we have been hit hard with pressure from foreign steel. The union and the company have been working together through this,” United Steelworkers business representative Jose Arroyo told the newspaper.

The company, formerly Copperweld Steel Co., makes continuously cast carbon and alloy rounds, squares and rectangles. It has an annual production capacity of 500,000 tons.