Steel production in Košice steelworks dropped last year

U.S. Steel Košice generated a loss of $57 million.

Illustrative stock photoIllustrative stock photo(Source: SITA/AP)

Production in the U.S. Steel Košice steelworks significantly dropped in 2019.

The results published by the American company show a slump in production and supplies of steel as well as in the overall economy.

U.S. Steel Košice generated a loss of $57 million before taxes and interest rates last year. In 2018, they recorded a 10-percent growth to almost $360 million, the SITA newswire reported.

Related story:U.S. Steel postpones investment in Košice Read more 

Supplies from Košice steelworks dropped by almost 20 percent to 3.59 million tonnes of steel in the y-o-y comparison.

The trend in production of crude steel followed suit: last year, it reached 3.9 million tonnes, down by more than 22 percent compared to 2018.

While in 2018, U.S. Steel Košice used its production capacities at 100 percent, last year it was only 78 percent.

Even though production in the plant decreased, investments in U.S. Steel's plant grew, reaching $153 million, up by 47 percent compared to 2018.

One furnace shut down

The rest of this article is premium content at Spectator.sk
Subscribe now for full access

I already have subscription - Sign in

Subscription provides you with:
  • Immediate access to all locked articles (premium content) on Spectator.sk
  • Special weekly news summary + an audio recording with a weekly news summary to listen to at your convenience (received on a weekly basis directly to your e-mail)
  • PDF version of the latest issue of our newspaper, The Slovak Spectator, emailed directly to you
  • Access to all premium content on Sme.sk and Korzar.sk

Get daily Slovak news directly to your inbox

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Second "secret poll" confirms observers' expectations

Slovakia's voters defied the ban on polls through a crowdfunding campaign.

The Slovak parliament approved the law on a 50-day moratorium on pre-election polls on November 26, 2019

Slovak far right courts youth vote in pivotal ballot

As Slovakia prepares to vote on Saturday, thousands of young voters are expected to opt for a far-right party that many would call neo-Nazi. What gives?

Extremism is a growing problem.

Parliament approves 13th pensions just days before the elections

The parliament failed to adopt two more proposals on February 26. The special session is over.

An extraordinary session is held on February 25, 2020.

Ethnic Hungarians should not be divided into good and bad

The identity of Slovakia's Hungarians cannot be based on how they feel about Orbán.

Hungarian PM Viktor Orbán (centre) and his Slovak counterpart Peter Pellegrini (centre-left) during their visit at the transit zone for migrants in Röszke on the Hungarian-Serbian border.