US Steel experienced a decline in shipments in the second quarter, with total shipments of 3.97 million short tons, down by 5.2 percent from the previous year.
The company's non-grain-oriented electrical steel line at its Big River Steel mill in Arkansas is being commissioned and expected to start later in the third quarter. The company's integrated US-based mills shipped 2.24 million short tons, while production rose by 4.3 percent to 2.53 million short tons.
Big River Steel mill shipments fell by 4.6 percent to 587,000 short tons, while production remained flat at 749,000 short tons. The Slovakian integrated mill shipped 1.03 million short tons, while production was relatively flat at 1.21 million short tons.
Tubular shipments fell by 18 percentage points to 111,000 short tons, while production fell by 23 percentage points to 129,000 short tons, with utilization rates dropping by 18 percentage points to 57 percentage points.
US Steel earned a profit of $477 million in the second quarter, less than half the $978 million it made a year earlier.
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