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    Overseas

    December 16, 2022

    USS Sees Stormy Q4, Bright Spot in Gary Works Pig Iron Caster

    US Steel said sourcing pig iron from its Gary Works in Indiana in the first half of 2023, and working through the remainder of the high-priced raw materials, are expected to improve its mini mill segment’s financial results.

    However, in guidance released Thursday, Dec. 15, the Pittsburgh-based steelmaker said the mini mill segment’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) is expected to be negative in the fourth quarter.

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    Price on Trade: Milwaukee Framework is a step forward on steel excess capacity

    Members of the Global Forum on Steel Excess Capacity (GFSEC) met in Wisconsin last week and unveiled an updated plan to combat market-distorting excess capacity. The Milwaukee Framework adds color to the 2017 “Berlin Principles.” It is also a positive step in the ongoing battle against global steel market distortions. However, the Framework is only a guidepost. It must be implemented correctly to make an impact as new problems loom.