Summary Box: US Steel Corp. narrows 1Q loss

AP News
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Posted: Apr 26, 2011 1:24 PM
Summary Box: US Steel Corp. narrows 1Q loss

CUTTING LOSSES: United States Steel Corp. reported a first-quarter net loss of $86 million, or 60 cents a share, compared with a loss of $157 million, or $1.10 per share, a year ago. Sales increased 25 percent to $4.86 billion.

PEDAL TO THE METAL: U.S. Steel sold more steel at higher prices, but raw materials to make steel _ like scrap metal and coal _ cost more too.

FORGING AHEAD: The company expects business to improve as the global economy sparks more demand for steel products. A key question is whether there will be an impact on orders from automakers due to Japan's crisis.