US Steel reduced steel shipments by 8.4% y/y in 2025

US Steel Corporation, one of the largest steel producers in the United States, reduced steel shipments by 8.4% in 2024 compared to 2023, to 14.2 million short tons. This is stated in the company’s report.

In the fourth quarter of last year, the figure decreased by 13.4% y/y – to 3.3 million tons.

The European division of US Steel Europe shipped 3.578 million tons of steel to consumers last year, down 8.2% year-on-year.

US Steel’s net profit in 2024 amounted to $384 million and adjusted net profit to $529 million ($895 million and $1.195 billion in 2023, respectively).

Adjusted EBITDA for the fourth quarter of 2024 amounted to $190 million, and totaled $1.37 billion last year.

The company expects its adjusted EBITDA to be in the range of $100-150 million in the first quarter of 2025. US Steel expects results in the flat products segment in North America to decline, mainly due to seasonal logistical constraints in the mining sector, which will ease in the second quarter. However, the company expects to partially offset this by the resilience of its commercial strategy.

The steelmaker expects improved results in the Mini Mill segment in January-March due to increased deliveries from the state-of-the-art Big River 2 rolling mill.

US Steel forecasts some improvement in Europe in the first quarter, but the company still faces pressure in the region due to difficult pricing and demand conditions. In the Tubular segment, the results should be largely in line with the fourth quarter.

As GMK Center reported earlier, US Steel increased steel shipments by 3.8% in 2023 compared to 2022 to 15.51 million tons. The European division of US Steel Europe shipped 3.899 million tons of steel to customers last year, up 3.7% year-on-year. The average selling price was €807 per tonne compared to €1,029 per tonne in 2022.