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

Top stories

News digest: Part of Slovakia in the worst possible colour of European Covid map

The Covid vaccine booster will be available for more people starting Monday. Education system reform is about to start.


3 h
Martin Hojsík

Russia, not emission allowances, is to blame for electricity and gas prices

Gazprom is tightening the taps and gas prices are rising, claims MEP Martin Hojsík.


9 h
Illustrative stock photo

Applause for frontline workers replaced with salary freeze

Regional hygienists, nursing homes employees, teachers and soldiers will all be affected.


20. okt
Skryť Close ad