U.S. Steel ($45.62, -$3.27, -6.69%) posted a second-quarter loss on currency impacts while shipments surged in its flat-rolled products and revenue more than doubled.
Still the steel producer warned that the "gradual and uneven" recovery in the U.S. and Europe would drag its third-quarter operating results below the second quarter's. In the important flat-rolled segment, volumes are expected to slide, costs to rise and prices will remain flat.
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U.S. Steel
($45.62, -$3.27, -6.69%)
posted a second-quarter loss on currency impacts while shipments surged in its flat-rolled products and revenue more than doubled.
Still the steel producer warned that the "gradual and uneven" recovery in the U.S. and Europe would drag its third-quarter operating results below the second quarter's. In the important flat-rolled segment, volumes are expected to slide, costs to rise and prices will remain flat.
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