29
Apr
01:00
US Steel's Q1 tubular shipments drop sharply
US Steel’s first quarter tubular segment shipments of 220,000 were down by roughly half from the previous quarter and the same quarter one year earlier. The segment posted positive Q1 earnings of $1m, but this was down significantly from $121m in Q4 2014 and $13m in Q1 2014.
The rig count has fallen nearly 50% since the start of the year, the company said, causing reduced drilling activity and thus lower demand for its tubular products.
Imports …
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