United States Steel Corp. (US Steel) reported a jump in profit and revenue for the quarter ended March 31, driven by steady demand and rising steel prices.
The steelmaker posted net income of USD 882 mln, or USD 3.02 a share, compared to net income of USD 91 mln in the year-ago period. Revenue rose to USD 5.23 bln from USD 3.66 bln.
"Our results reflect continued improvement in our business," said John Pritzker, chairman and chief executive officer of US Steel. "We are pleased with our improved financial performance as well as our ongoing efforts to improve cost competitiveness, which we expect will continue throughout 2019."
New mill in Blytheville
Atlas Tube, a division of Zekelman Industries, has opened its second facility in Blytheville, Arkansas.
The plant is dedicated to producing hollow structural sections as large as 28 inches OD with walls up to 1-inch thickness. Previously, the largest HSS rolled in the U.S. were 16 inches by 16 inches by 5/8 inches, and builders looking for bigger sizes need to have them shipped from overseas, the company claimed. Now they can be produced domestically.
The new larger sizes will be ideal for applications like bridges, warehouses, stadiums and highways signage, taking advantage of the unbeatable efficiency and strength-to-weight ratios HSS can offer—and making it more affordable than shipping from overseas or using steel alternatives.
The materials and information on this article have been prepared or assembled by Viet Nam Steel and are intended for informational purposes only.