US Steel Corp., the largest US -based steel maker, reported quarterly loss Tuesday on weak demand.
The Pittsburgh-based company said it lost $392 million during the second quarter as the global recession hurt demand. Quarterly revenue fell 68 percent to $2.13 billion.
It was the company's second straight quarterly loss. In April, the company posted its first quarterly loss in more than five years, citing anemic demand.
Shares of US Steel Corp shares fell 2.2 percent to 40.35 dollars after the company said it expected all of its business sectors to operate in the red in the third quarter.
US Steel has already laid off thousands of workers and temporarily idled plants since steel demand plunged amid the credit crisis and economic slowdown late last year.
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