Steel Mills
January 27, 2016
US Steel Posts Billion Dollar Loss for Q4
Written by Sandy Williams
Significantly lower prices and weakened demand for flat rolled and tubular products resulted in big losses for US Steel last year and the outlook for 2016 is not much better. US Steel reported a fourth quarter net loss of $999 million and a net loss of $1.5 billion for full year 2015.
The company continues to cut costs and improve efficiency with its Carnegie Way transformation, but it wasn’t enough to offset dismal market conditions.
