Risk Factors Update Summary
- Global steel production overcapacity is estimated to increase from 556.1 million metric tons in 2022 to over 600 million metric tons in 2023.
- The steel industry often faces competition from imports at or below their costs of production.
- The Trump and Biden Administrations negotiated tariff quotas on steel imports from the EU, UK, and Japan.
- Total capital expenditures for the three-year period ended December 31, 2023, increased from approximately $5.18 billion to $5.87 billion.
- The company announced substantial capital projects and faces ongoing competition from other steel producers.
- Environmental regulations and compliance obligations may become more stringent, impacting construction permits and expansion plans.
- The company faces cybersecurity threats that could adversely affect operations and incur increased protection costs.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=73309&owner=exclude
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