Steel Mills
April 28, 2015
US Steel Expects Continuing Challenge from Imports
Written by Sandy Williams
US Steel reported a first quarter net loss of $75 million–$65 million of which was due to the shutdown of coke production facilities. Net sales were $3.27 billion on total steel shipments of 4.1 million tons.
Commenting on results, U. S. Steel President and Chief Executive Officer Mario Longhi said, “Our results reflect extremely challenging market conditions, including the negative impact of the tremendously high levels of imports, which have contributed to reduced volumes and average realized prices. We have taken aggressive action to balance our operational footprint in the most cost effective way; however, we are maintaining our customer focus and our flexibility to respond quickly when market conditions improve.”
