Steel Mills
April 30, 2014
Weather Major Factor for US Steel
Written by Sandy Williams
“We weathered not only the economic storm with five years of losses but also the first quarter’s extreme weather,” was one of the opening remarks by Executive Vice President & CFO David Burritt in the US Steel Conference Call on Thursday.
Weather played a huge part in operations at US Steel in the first quarter. President & CEO Mario Longhi told analysts on the call that “ice conditions in the Great Lakes and, particularly, Lake Superior are the worst we have seen in 30 years.” Normally shipping is on hold in winter for around 70 days but this year shipping was held up over 120 days and ice cutters are still assisting vessels across Lake Superior.
