Steel prices and demand remain sluggish, US Steel lowers Q4 performance guidance
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US Steel expects to report a loss in the fourth quarter, with an adjusted loss per share between 25 to 29 cents, significantly lower than analysts' expectations of a profit of 16 cents per share. Affected by weak steel prices and cost pressures, the stock fell over 5% in after-hours trading. The company anticipates core profits of approximately $150 million, down from the previously forecasted $225 million to $275 million. Due to declining demand, core profits in the flat-rolled and mini mill segments are also expected to be lower than the previous quarter
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