U.S. Steel expects $40M in losses from coke works fire
By Jamie Martines
U.S. Steel is anticipating $40 million in costs during the first quarter of 2019 related to the Dec. 24 fire at Clairton Coke Works, according to earnings reports released Wednesday.
Between $15 million and $20 million will be related to physical repair costs, U.S. Steel Chief Financial Officer Kevin Bradley told investors Thursday.
“The bulk of the remainder is the natural gas purchase cost in lieu of the coke oven gases we would have been utilizing,” Bradley said.
The Clairton facility started using a blend of natural gas and coke oven gas following the December fire. Coke oven gas is typically recycled to fuel processes at the Clairton facility, according to statements from U.S. Steel.
To read the rest of this story, please see a copy of Friday’s Mon Valley Independent, call 724-314-0035 to subscribe or subscribe to our online edition at https://e.monvalleyindependent.com.
