U.S. Steel Košice posted €32m loss in third quarter
Steel mill U.S. Steel Košice posted a €32m loss in the third quarter. Last year, it reported a record net profit of €648m and in January-September, its profit still stood at €510m. It says the steel industry is already feeling a recession and falling demand. Its 1-3Q production volume was down 13% annually to 3.3m tons. The price of energy and materials is rising, while the price of steel fell 14% during the third quarter.
The steel mill recently agreed to increase basic salaries by €80 per month. Working hours of administrative workers will increase slightly.
