U.S. Steel Focuses on Positive Outlook for Flat-Rolled Steel After Harsh Third Quarter
Attachment: USsteel3Q20
SUGAR LAND--November 2, 2020--Researched by Industrial Info Resources (Sugar Land, Texas)--United States Steel Corporation (NYSE:X) (Pittsburgh, Pennsylvania) knew it was in for a rough quarter, and expectations for a fifth consecutive quarterly loss did not go unfulfilled. The company reported a net loss of $234 million for third-quarter 2020, compared with a net loss of $84 million in the same period last year, with overall sales down 24% and steel shipments down 16%. But executives remain optimistic about the near term, pointing to growing demand for its flat-rolled products across key industries. Industrial Info is tracking about $2.5 billion in active projects from U.S. Steel, including $1.26 billion worth that are set to begin construction in the next six months.
Within this article: Details on some of the highest-valued projects from U.S. Steel, including major programs at the Gary Steel Works plant in Gary, Indiana; Edgar Thomson Steel Works plant in Braddock, Pennsylvania; and the steel mill and seamless steel pipe plant in Fairfield, Alabama.
