STEEL: Uncertain economy facing U.S. Steel, other industry companies

Times Board of Economists - Report from Charles Rice, general manager of public affairs, U.S. Steel
2012-10-21T00:00:00Z 2013-12-18T16:23:25Z STEEL: Uncertain economy facing U.S. Steel, other industry companiesBy Bowdeya Tweh, (219) 933-3316

The steel market has shown improvement this year, but the economy remains slow and unsteady, said Jill Ritchie of U.S. Steel.

After reaching levels of 80 percent in the spring, U.S. steel mills operated 70.3 percent of the available production capacity last week, which is down from a 71.1 percent production rate a week earlier, according to the American Iron and Steel Institute. Production at domestic mills this year is up 4 percent to 77.7 million tons of raw steel compared to last year.

U.S. Steel has posted a net loss of $118 million in the first six months of 2012 compared to net income of $136 million in the comparable 2011 period.

Ritchie said the company is continuing its mission ensure steel remains the material of choice and that it remains a good neighbor in Northwest Indiana.

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