Steel Mills
July 31, 2014
USS Speaks About EAF’s, DRI and their Canadian Operations
Written by Sandy Williams
US Steel did surprisingly well in the second quarter, coming back from a weather impacted first quarter to narrow losses and show operating profit.
US Steel reported a net loss of $18 million in the second quarter, performing better than expected. Income from operations came to $132 million. Net sales were $4.40 billion as compared to $4.44 billion in first quarter. Total steel shipments were 5.029 million tons, down from 5.124 million tons in the previous quarter. US Steel has reduced its net debt to $2.2 billion and now has cash and liquidity in excess of $3.2 billion.
