STEEL: Products need demand to be sold

, director of public policy and state governmental affairs for United States Steel Corp.
2013-01-27T00:00:00Z 2013-12-18T16:30:37Z STEEL: Products need demand to be soldBowdeya Tweh, (219) 933-3316
January 27, 2013 12:00 am  • 

As the economy goes, so does United States Steel Corp.

Jilll Ritchie, of U.S. Steel, said the company relies on demand for consumer durable goods such as automobiles and washing machines to form key markets for its steel products.

U.S. Steel has posted a net loss of $74 million in the first nine months of 2012, which is down from a net income of $158 million in the comparable 2011 period.

"The economy really needs to get roaring again for us to succeed," Ritchie said.

The American Iron and Steel Institute reported that U.S. steel mills had a capacity utilization rate of 76.1 percent in the week ended Jan. 19. Mill operating rates remain below tthe rate's 2012 peak.

To help the company remain competitive, Ritchie said the federal government could make improvements in public policy, develop a comprehensive energy plan, continue to support fair trade, create reasonable regulations on tax reform and address the nation's infrastructure needs.

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