U.S. Steel Košice more than doubled profit last year

U.S. Steel Košice more than doubled EBITDA to $156m last year. Gains from exchange rate movements, inventory revaluation, and lower raw material costs outweighed the negative impact of lower steel prices and high energy costs. Output fell to a five-year low of 3.6m tons, down from a peak of 5.1m tons in 2018. Revenues declined 7% to $2.8bn. A modest recovery in demand is expected this year, partly supported by stronger EU trade protection. New owner Nippon Steel of Japan is expected to announce soon whether it will invest in decarbonizing production.

(hnonline.sk, dennikN.sk)