U.S. Steel sees great increase in Q2 earnings
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Update time : 2021-06-22 18:25:39
United States Steel Corporation (U.S. Steel), an integrated steel producer in the US, expected that its adjusted earnings will reach US$880 million in the second quarter of this year, surging by 867% compared to the previous quarter and also rising by 49.4% from the same quarter of 2020. The expected second-quarter earnings excluded restructuring and asset impairment charges.
U.S. Steel is confident in 2022 as it believed that continued strong demand and low steel inventories will push the improvement of the market.
Besides, the firm planned to invest part of the earnings into Big River Steel's new non-grain-oriented electrical steel production line, which will let it occupy a part of the booming electric vehicle market.
