U.S. Steel Košice improved its net profit 66%

The U.S. Steel Košice steel mill improved its revenues 28% to €2.6bn last year, and its net profit jumped 66% to €449.9m. Back in 2013, it lost €370m, but has been in the black since. It seems high profits have led U.S. Steel to abandon its plans to sell its Košice mill to He Steel Group of China. The management explains last year’s surge in profit by rising steel prices on the EU markets, cost cuts and lower interest rates. The last year’s profit was just under the record €480m profit from 2006.

(HN/1)