The Hoosier State has been the top steel-producing state in the country for more than 40 years, mainly due to the hulking integrated steel mills that ring the south shore of Lake Michigan.
U.S. Steel is becoming the first North American steelmaker to join ResponsibleSteel, a global group that's working to make the steel industry and steel supply chain more sustainable.
Cleveland-Cliffs, one of the Calumet Region's largest industrial employers, pulled in a profit of $41 million or $0.07 per share in the first quarter.
U.S. Steel aims to become carbon neutral by 2050. The steelmaker hopes to achieve net-zero carbon emissions within three decades, but stresses the technology needed isn't widely available yet.
Cleveland-Cliffs, one of the Calumet Region's largest industrial employers, expects to pull in about $3.5 billion of Earnings Before Interest, Taxes, Depreciation and Amortization this year if prices hold up.
U.S. Steel projects it will turn a profit of $265 million or $1.02 a share in the first quarter of 2021.
The Cleveland-based steelmaker, which has swollen in size due to its acquisitions of ArcelorMittal USA and AK Steel, brought in $2.3 billion in revenue in the fourth quarter, as compared to $534 million in revenue in the fourth quarter of 2019.
U.S. Steel's Gary Works steel mill make a major gift to Methodist Hospitals Foundation's COVID-19 Response Fund.
U.S. Steel warned investors it expects to lose 85 cents per share in the fourth quarter.
The United States imported 1.51 million tons of steel during September, a 17.3% increase as compared to the 1.29 million tons imported in August, according to the Commerce Department’s most recent Steel Import Monitoring and Analysis data.
With its business and the entire steel industry hard-hit by the coronavirus pandemic, U.S. Steel expects to lose $100 million in the third quarter.
U.S. Steel expects Gary Works blast furnace will remain idled through 2020
U.S. Steel lost $589 million in the second quarter, or $3.36 per diluted share.
U.S. Steel is selling 50 million shares of stock and expecting to lose $315 million in the second quarter.
The steelmaker, which employs more than 10,000 steelworkers across Northwest Indiana and Riverdale in neighboring Illinois, has won the distinction every year since it was launched in 2017.
U.S. Steel is selling $1.05 billion in senior secured notes to raise capital during the coronavirus pandemic, which greatly disrupted the steel business.
Moody's downgraded the credit rating of one of Northwest Indiana's largest employers, saying it was susceptible to demand loss during the coronavirus pandemic.
ArcelorMittal lost $1.1 billion during the first quarter because of the coronavirus-induced downturn in the steel industry.
The layoffs are expected to last less than six months.
Northwest Indiana steel mills are taking coronavirus precautions like banning visitors and meetings with vendors.
ArcelorMittal USA suffered from a 4.7% drop in flat-rolled demand last year, the biggest drop since the import crisis in 2015.
Indiana single-handedly produced about a fourth of the nation's steel last year.