U.S. Steel CEO Sees Prices Stabilizing After Recent Decline
- CEO says longer-term prices will be higher than last decade
- Burritt doesn’t count out eventually shuttering Granite City
This article is for subscribers only.
U.S. Steel Corp.’s boss says those betting on a further drop in steel prices are likely to be disappointed.
Chief Executive Officer David Burritt doesn’t envisage domestic steel prices returning where they were in August, when they hit almost $2,000 per ton -- they’re currently at $1,170 - but he does think the long-term average will be much higher compared with the past decade.