U.S. Steel Reports Loss
Jul 29, 2009
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United States Steel Corp. said it lost US$392 million during its second quarter as the global recession hurt orders for the metal. Quarterly revenue fell 68% to $2.13 billion.

"Our order book and operating rates remained at very low levels, spot market prices declined and we continued to incur carrying costs for our idled facilities," U.S. Steel CEO John Surma said in a statement.

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