US Steel posts loss in third quarter
By Daniel Lovering |
October 28, 2009, Wednesday
|
Print Edition
Print Edition
UNITED States Steel Corp said yesterday it lost money for a third straight quarter as the global economic downturn continued to dampen demand for the metal.
But the company said its steel production and shipments rose significantly, and that it expects improved results in the fourth quarter. Still, it forecast a loss for the October-December period.
The loss highlights an industrywide slump in demand that began when the world economy faltered late last year. That undermined key customers in the construction, auto and industrial equipment industries. Steel makers like US Steel, based in Pittsburgh, responded by winding down production and laying off thousands of workers.
Although prices and production rose in the quarter as steel distributors scrambled to fill orders after depleting stockpiles, the market for the metal remained weak.
But the company said its steel production and shipments rose significantly, and that it expects improved results in the fourth quarter. Still, it forecast a loss for the October-December period.
The loss highlights an industrywide slump in demand that began when the world economy faltered late last year. That undermined key customers in the construction, auto and industrial equipment industries. Steel makers like US Steel, based in Pittsburgh, responded by winding down production and laying off thousands of workers.
Although prices and production rose in the quarter as steel distributors scrambled to fill orders after depleting stockpiles, the market for the metal remained weak.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
