Pittsburgh-based steelmaker US Steel posted a record profit of $4.174 billion in 2021 thanks to strong steel prices, which were supported by strong demand, an economic recovery and tariffs on much of the steel it imports. In the fourth quarter, the profit was 1.06 billion US dollars.
US Steel posted adjusted net income of $3.78 billion and adjusted EBITDA of $5.592 billion in 2021. She has operations at Gary Works and Midwest Plant in Portage.
US Steel's CEO said the company will gain more market share with advantages such as cheap iron ore, a mini steel plant and better finishing capabilities. The company will maintain its progress and will invest 850 million US dollars this year.
US Steel profit hits record high in 2021
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