Steel Mills
September 19, 2020
U.S. Steel Narrows Loss in Q3
Written by Sandy Williams
U.S. Steel expects another loss in the third quarter of 2020, but not as deep as in the second quarter. The steelmaker anticipates a $100 million adjusted EBITDA loss for the quarter compared to a loss of $264 million in Q2. The flat rolled segment is expected to be negative, but “significantly better” than Q2.
Order book and lead times have improved in the flat-rolled segment allowing the restart of three blast furnaces at U.S. Steel that were idled due to impacts from COVID-19. Two blast furnaces will remain idled through the end of this year.
