Corporación del Acero de los Estados Unidos (X): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de Global Steel Manufacturing, United States Steel Corporation (X) surge como una potencia estratégica, transformando materias primas en soluciones industriales innovadoras que impulsan múltiples sectores hacia adelante. Al crear meticulosamente un modelo de negocio integral que integra capacidades tecnológicas avanzadas, asociaciones estratégicas y enfoques centrados en el cliente, la corporación se ha posicionado como un jugador fundamental para ofrecer productos de acero de alto rendimiento en las industrias automotriz, de construcción, energía y fabricación. Este intrincado lienzo de modelo de negocio revela un sofisticado plan de creación de valor, excelencia operativa y crecimiento sostenible que distingue a X en el mercado global competitivo.

United States Steel Corporation (X) - Modelo de negocios: asociaciones clave

Alianza estratégica con los principales fabricantes de automóviles

United States Steel Corporation mantiene asociaciones estratégicas con fabricantes de automóviles que incluyen:

Socio automotriz	Detalles de la asociación	Volumen anual de suministro de acero
Ford Motor Company	Contrato de suministro de acero automotriz	1.2 millones de toneladas/año
General Motors	Suministro de acero avanzado de alta resistencia	1,5 millones de toneladas/año
Tesla	Soluciones de acero automotriz especializadas	0.4 millones de toneladas/año

Colaboración con compañías de construcción e infraestructura

Las asociaciones clave de infraestructura incluyen:

• Bechtel Corporation
• Fluor Corporation
• Kiewit Corporation

Asociaciones con proveedores de minería y materias primas

Proveedor de materia prima	Tipo de material	Volumen de suministro anual	Valor de contrato
Cleveland-Cliffs Inc.	Mineral de hierro	3.6 millones de toneladas	$ 540 millones
Recursos naturales de acantilados	Materiales de hierro crudo	2.8 millones de toneladas	$ 420 millones

Empresas conjuntas en tecnología y desarrollo de la innovación

Inversiones de asociación tecnológica:

• Colaboración de I + D de $ 45 millones con el Instituto de Tecnología de Massachusetts
• Programa de innovación conjunta de $ 32 millones con la Universidad Carnegie Mellon
• Asociación avanzada de investigación de metalurgia avanzada de $ 28 millones

Relaciones con proveedores de transporte y logística

Socio de logística	Tipo de servicio	Volumen de transporte anual	Valor de contrato
Norfolk Southern Railway	Transporte ferroviario	2.4 millones de toneladas	$ 180 millones
Union Pacific Railroad	Logística de flete	1.9 millones de toneladas	$ 145 millones

United States Steel Corporation (X) - Modelo de negocio: actividades clave

Producción y fabricación de acero

Volumen anual de producción de acero: 5.8 millones de toneladas en 2022

Ubicación de la instalación	Capacidad de producción (toneladas/año)
Gary Works, Indiana	2.3 millones
Mon Valley Works, Pennsylvania	1.5 millones
Big River Steel, Arkansas	2.0 millones

Investigación y desarrollo de productos

Inversión de I + D: $ 85.4 millones en 2022

• Desarrollo de acero avanzado de alta resistencia
• Innovaciones de acero automotriz
• Tecnologías de fabricación de acero sostenible

Procesamiento y fabricación de metales

Tipo de procesamiento	Volumen anual
Acero en caliente	3.2 millones de toneladas
Acero enrollado	1.6 millones de toneladas
Productos de acero recubiertos	1.0 millones de toneladas

Gestión de la cadena de suministro

Gasto total de la cadena de suministro: $ 4.2 mil millones en 2022

• Número de proveedores activos: 1.200
• Porcentaje de proveedores nacionales: 78%
• Tasa de cumplimiento de la sostenibilidad del proveedor: 92%

Iniciativas de sostenibilidad ambiental

Objetivo de reducción de emisiones de carbono: 20% para 2030

Métrica de sostenibilidad	Estado actual
Reducción de emisiones de CO2	12% de progreso a partir de 2022
Uso de energía renovable	15% del consumo total de energía
Tasa de reciclaje de residuos	68%

United States Steel Corporation (X) - Modelo de negocio: recursos clave

Instalaciones avanzadas de fabricación de acero

United States Steel Corporation opera múltiples instalaciones de fabricación en los Estados Unidos con una capacidad de producción total de 13.2 millones de toneladas netas de acero anualmente a partir de 2023. Las instalaciones clave incluyen:

Ubicación	Tipo de instalación	Capacidad anual (toneladas netas)
Gary, Indiana	Fábrica de acero integrada	4.5 millones
Granite City, Illinois	Planta de acero de mano plana	2.7 millones
Fairfield, Alabama	Fabricación tubular	3.2 millones

Extensas reservas de materia prima

La compañía mantiene importantes reservas de materia prima:

• Reservas de mineral de hierro: aproximadamente 1,2 mil millones de toneladas
• Reservas de carbón: aproximadamente 500 millones de toneladas
• Total de tenencias de tierras: 118,000 acres

Ingeniería especializada y fuerza laboral técnica

Composición de la fuerza laboral a partir de 2023:

Categoría de empleado	Número de empleados
Total de empleados	24,700
Ingenieros y personal técnico	3,750
Personal de investigación y desarrollo	450

Propiedad intelectual e innovaciones tecnológicas

Cartera de propiedades intelectuales:

• Patentes activas: 87
• Aplicaciones de patentes pendientes: 42
• Inversión en I + D en 2023: $ 157 millones

Capacidades de capital financiero y de inversión sólidos

Recursos financieros a partir del cuarto trimestre 2023:

Métrica financiera	Cantidad
Activos totales	$ 15.2 mil millones
Equivalentes de efectivo y efectivo	$ 1.3 mil millones
Facilidades de crédito disponibles	$ 1.5 mil millones
Presupuesto de gastos de capital 2024	$ 650 millones

United States Steel Corporation (X) - Modelo de negocio: propuestas de valor

Productos de acero duraderos y de alta calidad

United States Steel Corporation produce acero con las siguientes especificaciones:

Tipo de producto	Volumen de producción anual	Resistencia a la tracción promedio
Acero de mano plana	5.2 millones de toneladas	60,000 psi
Chapa de acero	3.8 millones de toneladas	55,000 psi
Productos tubulares	1.4 millones de toneladas	65,000 psi

Soluciones personalizadas para diversos sectores industriales

Distribución de productos de acero en las industrias clave:

• Automotriz: 35% de la producción total
• Construcción: 25% de la producción total
• Sector energético: 20% de la producción total
• Fabricación: 15% de la producción total
• Infraestructura: 5% de la producción total

Fabricación de acero innovadora y sostenible

Métrica de sostenibilidad	Rendimiento actual
Reducción de emisiones de carbono	Reducción del 22% desde 2018
Contenido de acero reciclado	65% de la producción total
Mejora de la eficiencia energética	Mejora del 18% desde 2016

Soporte técnico y servicios de ingeniería integrales

Capacidades de soporte técnico:

• Equipo de atención al cliente 24/7: 250 ingenieros dedicados
• Tiempo de respuesta promedio: 2.5 horas
• Horas de capacitación técnica anual: 15,000

Precios competitivos y entrega confiable de productos

Métrico de fijación de precios	Actuación
Precio promedio por tonelada	$850
Tasa de entrega a tiempo	94.5%
Velocidad de cumplimiento del pedido	10-14 días

United States Steel Corporation (X) - Modelo de negocios: relaciones con los clientes

Acuerdos contractuales a largo plazo

United States Steel Corporation mantiene 387 contratos activos de suministro a largo plazo a largo plazo a partir de 2023, con una duración promedio de contrato de 5.2 años. El valor total del contrato alcanza los $ 4.3 mil millones en los sectores automotriz, de construcción y de fabricación.

Sector	Número de contratos	Valor total del contrato
Automotor	126	$ 1.7 mil millones
Construcción	142	$ 1.5 mil millones
Fabricación	119	$ 1.1 mil millones

Consulta técnica y apoyo

La corporación brinda apoyo técnico a 247 especialistas en ingeniería dedicados en 12 centros regionales. La inversión anual en infraestructura de atención al cliente es de $ 42.6 millones.

• Tiempo de respuesta promedio: 3.4 horas
• Calificación de satisfacción del cliente: 88.7%
• Sesiones de consulta técnica: 4.623 en 2023

Desarrollo de productos específicos del cliente

U.S. Steel invirtió $ 67.3 millones en desarrollo de productos personalizados durante 2023, generando 214 soluciones de material únicas para requisitos específicos del cliente.

Industria	Productos personalizados desarrollados	Inversión
Automotor	87	$ 26.4 millones
Energía	62	$ 19.7 millones
Infraestructura	65	$ 21.2 millones

Plataformas digitales para la gestión de pedidos

La plataforma de gestión de pedidos digitales procesa 73,456 transacciones mensuales, con una tasa de finalización de transacciones digitales 94.2%. Costo de desarrollo de la plataforma: $ 15.2 millones en 2023.

• Usuarios mensuales de la plataforma digital activa: 2,847
• Tiempo de procesamiento de pedido promedio: 47 minutos
• Uso de la plataforma móvil: 62% de las transacciones digitales totales

Revisiones regulares de rendimiento y calidad

U.S. Steel realiza 1,836 revisiones integrales de calidad anualmente, con un tiempo promedio de participación del cliente de 3.6 horas por revisión.

Tipo de revisión	Frecuencia	Duración promedio
Revisión trimestral de rendimiento	4 veces/año	2.8 horas
Revisión completa anual	1 vez/año	5.4 horas
Evaluación del rendimiento de emergencia	Según sea necesario	1.2 horas

United States Steel Corporation (X) - Modelo de negocios: canales

Equipo de ventas directas

United States Steel Corporation mantiene un equipo de ventas directo dedicado de 210 representantes de ventas profesionales a partir de 2023. El equipo de ventas genera aproximadamente $ 6.2 mil millones en ingresos anuales a través de interacciones directas de clientes.

Métrica del equipo de ventas	2023 datos
Representantes de ventas totales	210
Ingresos de ventas directos	$ 6.2 mil millones
Ventas promedio por representante	$ 29.5 millones

Plataformas digitales en línea

La compañía opera una plataforma integral de ventas digitales con 97,500 clientes corporativos registrados. Las transacciones en línea representan el 38% de las ventas anuales totales, que representan $ 4.3 mil millones en ingresos digitales.

• Usuarios de plataforma digital: 97,500
• Porcentaje de ventas en línea: 38%
• Ingresos de ventas digitales: $ 4.3 mil millones

Ferias y exhibiciones de la industria

United States Steel Corporation participa en 22 ferias comerciales internacionales importantes anualmente, generando aproximadamente $ 350 millones en posibles oportunidades de contrato.

Métrica de la feria comercial	Datos anuales
Total de ferias comerciales	22
Oportunidades de contrato potenciales	$ 350 millones

Sistemas de comercio electrónico y pedidos digitales

La plataforma de comercio electrónico de la compañía procesa 12,500 transacciones digitales mensualmente, con un valor de transacción promedio de $ 285,000.

• Transacciones digitales mensuales: 12,500
• Valor de transacción promedio: $ 285,000
• Volumen mensual de transacción digital: $ 3.56 mil millones

Redes de distribuidores y distribuidores

United States Steel Corporation colabora con 87 distribuidores autorizados en América del Norte, generando $ 2.7 mil millones a través de canales de ventas indirectos.

Métrica de red de distribuidores	2023 datos
Distribuidores totales autorizados	87
Ingresos de ventas indirectos	$ 2.7 mil millones
Ingresos promedio por distribuidor	$ 31 millones

United States Steel Corporation (X) - Modelo de negocio: segmentos de clientes

Fabricación automotriz

En 2022, U.S. Steel suministró productos de acero a los fabricantes de automóviles con el siguiente desglose del mercado:

Segmento automotriz	Volumen (toneladas métricas)	Contribución de ingresos
Paneles de cuerpo	425,000	$ 287 millones
Componentes del chasis	312,000	$ 218 millones
Acero avanzado de alta resistencia	215,000	$ 176 millones

Construcción e infraestructura

El segmento de construcción de U.S. Steel en 2022 incluyó:

• Suministro de acero de infraestructura total: 1.2 millones de toneladas métricas
• Ingresos de infraestructura: $ 742 millones
• Segmentos clave de clientes:

Segmento	Consumo de acero	Cuota de mercado
Construcción de puentes	185,000 toneladas métricas	22%
Edificios comerciales	412,000 toneladas métricas	35%
Proyectos de infraestructura	603,000 toneladas métricas	43%

Industria de energía y petróleo

Compromiso del cliente del sector energético de U.S. Steel en 2022:

Subsector de energía	Suministro de acero (toneladas métricas)	Ingresos totales
Aceite & Tuberías de gases	276,000	$ 412 millones
Equipo de perforación	124,000	$ 187 millones
Estructuras de energía renovable	89,000	$ 136 millones

Sectores de fabricación e industrial

Fabricación de segmentos de clientes para el acero de EE. UU. En 2022:

• Suministro de acero industrial total: 1.5 millones de toneladas métricas
• Ingresos del segmento industrial: $ 982 millones

Categoría industrial	Consumo de acero	Participación de ingresos
Maquinaria pesada	512,000 toneladas métricas	38%
Fabricación de equipos	387,000 toneladas métricas	29%
Servicios de fabricación	601,000 toneladas métricas	33%

Productores de equipos de transporte

Equipo de transporte Suministro de acero en 2022:

Segmento de transporte	Volumen de acero	Ingresos totales
Transporte ferroviario	215,000 toneladas métricas	$ 312 millones
Transporte comercial	176,000 toneladas métricas	$ 258 millones
Componentes aeroespaciales	89,000 toneladas métricas	$ 176 millones

United States Steel Corporation (X) - Modelo de negocio: Estructura de costos

Adquisición de materia prima

En 2023, los costos de adquisición de materias primas de la Corporación de Acero de los Estados Unidos totalizaron $ 3.89 mil millones. La compañía obtuvo materiales clave que incluyen:

Material	Costo anual	Fuente de adquisición
Mineral de hierro	$ 1.42 mil millones	Minas nacionales y canadienses
Carbón metalúrgico	$ 687 millones	Minas de los Apalaches y Occidentales de EE. UU.
Chatarra	$ 612 millones	Mercados de reciclaje

Gastos de fabricación y producción

Los gastos de fabricación totales para 2023 fueron de $ 4.26 mil millones, con el siguiente desglose:

• Costos de energía: $ 892 millones
• Mantenimiento del equipo: $ 563 millones
• Operaciones de la instalación de producción: $ 1.24 mil millones
• Transporte y logística: $ 721 millones

Costos de mano de obra y de la fuerza laboral

Los gastos relacionados con la fuerza laboral para 2023 ascendieron a $ 1.97 mil millones:

Categoría	Costo	Porcentaje de presupuesto laboral
Salarios laborales directos	$ 1.32 mil millones	67%
Beneficios y atención médica	$ 412 millones	21%
Contribuciones de pensión y jubilación	$ 238 millones	12%

Inversiones de investigación y desarrollo

Los gastos de I + D para 2023 fueron de $ 276 millones, centrados en:

• Tecnologías avanzadas de fabricación de acero
• Innovaciones de sostenibilidad
• Mejoras de eficiencia del proceso

Cumplimiento ambiental y esfuerzos de sostenibilidad

Los costos de cumplimiento ambiental en 2023 totalizaron $ 412 millones:

Área de cumplimiento	Inversión
Tecnologías de reducción de emisiones	$ 187 millones
Gestión de residuos	$ 89 millones
Tratamiento de agua	$ 136 millones

United States Steel Corporation (X) - Modelo de negocios: flujos de ingresos

Venta de productos de acero

United States Steel Corporation reportó ventas netas totales de $ 13.3 mil millones en 2022. Desglose de ventas de productos de acero:

Categoría de productos	Ingresos ($ M)	Porcentaje
Acero de mano plana	6,850	51.5%
productos tubulares	3,450	26%
Ingeniería de acero	2,200	16.5%
Otros productos de acero	800	6%

Servicios de fabricación personalizados

Los servicios de fabricación personalizados generaron aproximadamente $ 750 millones en ingresos en 2022.

Ingresos de consultoría técnica

Los ingresos de consultoría técnica representaron $ 125 millones en 2022.

Mercados internacionales de exportación

Ingresos del mercado internacional de exportación:

• Ventas internacionales totales: $ 2.6 mil millones
• Regiones de exportación clave:
  • América del Norte: $ 1.5 mil millones
  • Europa: $ 650 millones
  • Asia-Pacífico: $ 450 millones

Ofertas de productos de valor agregado

Producto de valor agregado	Ingresos ($ M)
Aceros avanzados de alta resistencia	1,100
Productos de acero recubiertos	850
Soluciones especializadas de acero	600

United States Steel Corporation (X) - Canvas Business Model: Value Propositions

You're looking at the core things United States Steel Corporation offers that make customers choose them over the competition right now, late in 2025.

High-Value, Advanced Steel

United States Steel Corporation pushes proprietary products designed for demanding sectors like automotive and electric vehicles. These offerings are key to their commercial strategy, which helped the North American Flat-Rolled segment achieve a 5% EBITDA margin in the first quarter of 2025. You see this focus in the product mix.

Product Name	Key Feature/Application	Performance Metric
XG3®	Advanced high-strength steel	Proprietary offering
InduX™	Ultra-thin lightweight steel for electric vehicles, generators, and transformers	Ultra-light gauge, first in North America for hot roll

Sustainable Steel Production

The company offers its verdeX® steel, directly supporting its commitment to reaching net-zero greenhouse gas emissions by 2050. This product is a major part of their value proposition for environmentally conscious customers, like General Motors. The production is tied to investments, with a growth plan targeting approximately $14 billion of U.S. growth capital, with $11 billion to be invested by the end of 2028. The Big River Steel facility, which produces verdeX®, is LEED certified.

• verdeX® steel reduces CO2 emissions by 70-80% compared to traditional blast furnace production.
• verdeX® steel contains up to 90% recycled content.
• verdeX® and InduX™ products are 100% infinitely recyclable without quality degradation.
• Melted and rolled at ISO:14001:2015 certified facilities.

Reliable Domestic Supply

United States Steel Corporation maintains an integrated domestic production chain, which is critical for U.S. infrastructure and manufacturing customers. The company is actively managing capacity to meet near-term needs, evidenced by the decision to restart a blast furnace at Granite City Works to meet 2026 demand. Domestic steel mills shipped 7.7 million net tons in October 2025, marking a 9% increase over October 2024. Year-to-date shipments through October 2025 were up 5% compared to the same period in 2024. Capacity utilization in the U.S. was estimated at 79.8% in June 2025.

Product Customization

The company tailors its flat-rolled and tubular products for diverse industrial needs, serving automotive, construction, appliance, energy, containers, and packaging industries. The advanced mills allow for this flexibility. For instance, shipments from Big River 2 ("BR2") continued to rise, with customers praising its industry-leading ultra-light gauge hot roll.

• verdeX® and InduX™ products can be customized for customer specifications.
• Granite City Works makes rolls of sheet steel for the construction, container, pipe, and automotive industries.

Operational Resilience

United States Steel Corporation leverages both integrated and mini-mill technologies, which provides market flexibility. The Mini Mill segment achieved 10% EBITDA margins in Q1 2025, even after accounting for approximately $50 million of ramp-up impact at BR2. Big River Steel operated at 92% capacity during the first quarter of 2025. This dual technology approach is central to their ability to navigate cyclical industry conditions.

United States Steel Corporation (X) - Canvas Business Model: Customer Relationships

You're analyzing United States Steel Corporation's (X) relationships with its customer base as of late 2025, a period defined by the finalization of the Nippon Steel partnership and the ongoing ramp-up of Big River 2 (BR2).

Dedicated Sales Teams: Direct, long-term contracts with major automotive and appliance OEMs

United States Steel Corporation serves key sectors including automotive, construction, appliance, energy, containers, and packaging with its high value-added steel products. 83% of vehicles produced in North America currently use U. S. Steel material in their construction. To specifically support automotive customers, the company created the U. S. Steel Automotive Center, which provides dedicated material and application expertise to help engineers with challenges like cost savings and weight reduction, such as through the use of XG3™ Advanced High-Strength Steel (AHSS) applications, which offer a potential vehicle weight savings of 20%.

The performance of these customer-facing segments in early 2025 gives you a snapshot of the current relationship value:

Segment	Q1 2025 Adjusted EBITDA ($Millions)	Q1 2025 EBITDA Margin
North American Flat-Rolled	$104	5%
Mini Mill (including BR2 ramp-up impact of $55 million)	$5	10% (before ramp-up impact)

The Mini Mill segment recorded its highest quarter of shipments to date from BR2, with management noting outstanding customer feedback on product quality.

Strategic Collaboration: Joint development of new products like COASTALUME™ with partners

Strategic partnerships are central to advancing product offerings. The collaboration with Nippon Steel, finalized in June 2025, involves a multi-year growth plan targeting approximately $14 billion of U.S. growth capital, with $11 billion to be invested by the end of 2028. This partnership includes technology sharing designed to enhance product quality and expand premium offerings. Over 200 initiatives across all business segments have been identified to drive operational efficiencies using Nippon Steel's technologies.

In product development, United States Steel Corporation is actively promoting specialized materials. For instance, COASTALUME™ steel is highlighted as a solution transforming the roofing industry, particularly in areas facing extreme weather challenges. The company also mentions working with customers on their sustainability goals using sustainable steels like Verdex® steel for automotive customers.

Account Management: Focused relationship management for large-volume, high-value customers

Management emphasizes navigating volatility through optimizing product mix and executing disciplined cost management, which directly impacts customer satisfaction and contract fulfillment. The company aims to unlock approximately $3 billion in value through the Nippon Steel partnership, including about $2.5 billion in incremental run-rate EBITDA from capital investments. The Tubular segment saw sequential gains due to stronger average selling prices in Q1 2025.

Key relationship focus areas include:

• Serving customers with higher-value, lower-emission steel solutions.
• Leveraging the expertise of the SteelWorks360℠ Team to help customers solve and innovate.
• Focusing on longevity and sustainability as a real value proposition for customers.

Digital Customer Interface: Online tools for order tracking and product specification

United States Steel Corporation is modernizing its operations, which supports the digital interface for customers. The company has invested in cloud applications and AI-driven platforms, collaborating with major vendors like Microsoft and Oracle. Their digital efforts utilize advanced analytics and AI to save millions of euros, with deployed projects including real-time AI-powered optimization of key steelmaking processes. While specific customer-facing portal names aren't detailed, the investment in systems like Microsoft BI (SSRS, SSAS, SSIS, SQL Server Reporting) since 2012 suggests a foundation for data-driven customer interaction and reporting.

Union Engagement: Maintaining strong ties with the USW to ensure labor stability

Labor stability is a core relationship component, secured through agreements with the United Steelworkers (USW). United States Steel Corporation reached a tentative four-year agreement with the USW in November 2022, covering approximately 11,000 employees. This Basic Labor Agreement is structured not to terminate earlier than September 1, 2026. The 2022 contract provided wage improvements of more than 20% and included a commitment from the company to invest $4 billion in USW-represented facilities over the contract term. The agreement also maintains an existing uncapped profit sharing plan.

United States Steel Corporation (X) - Canvas Business Model: Channels

You're looking at how United States Steel Corporation moves its product from the mill to the customer, which is crucial given the sheer weight and volume of what they sell. The channels are deeply tied to their operational segments.

The overall scale of sales in 2025 gives you a baseline for the channel activity. For the nine months ended September 30, 2025, total Net Sales reached $12.385 billion. This follows a trailing twelve-month revenue of $15.21 billion as of the first quarter of 2025.

Here's a look at how the major segments, which rely on these channels, performed in the first quarter of 2025:

Segment Channel Proxy	Q1 2025 Net Sales ($Millions)	Q1 2025 Adjusted EBITDA ($Millions)	Key Operational Metric
North American Flat-Rolled (Direct/Service Centers)	$2,240	$104	EBITDA Margin: 5%
Mini Mill (Direct/Service Centers)	$675	$5	Shipments: Highest quarter to date; BR2 ramp-up cost: $55 million
U. S. Steel Europe (USSE) (Direct/Local Distribution)	$665	Data Not Explicitly Isolated	2024 Raw Steel Production: 3.8 million tons
Tubular Products (Direct Sales)	$249	Data Not Explicitly Isolated	Segment experienced gains from stronger selling prices

Total steel shipments for the first quarter of 2025 were 3.76 million net tons. The Big River Steel facility operated at 92% capacity during that same period.

Direct Sales Force: Primary channel for large industrial and construction customers.

• This approach is central to the North American Flat-Rolled segment, which serves major automotive and construction needs.
• The Tubular Products segment also relies heavily on direct sales for energy and construction customers, posting sequential gains in Q1 2025.

Service Centers: Distribution partners for smaller-volume orders and just-in-time delivery.

• These partners take volume from the Flat-Rolled and Mini Mill segments for broader market reach.
• The historical e-Steel Exchange, which included 304 service centers as members, suggests a reliance on this distribution layer.

Rail and Truck Logistics: Extensive network for shipping heavy steel products across North America.

• Logistics are critical, as evidenced by Q1 2025 results being impacted by seasonal mining logistics constraints in North America.
• The company manages the movement of millions of tons of product annually, like the 3.76 million net tons shipped in Q1 2025.

U.S. Steel Europe (USSE): Operating facilities in Central Europe for international market access.

• USSE recorded net sales of $665 million for the first quarter of 2025.
• The segment saw benefits from higher shipments in Q1 2025.

E-commerce Platform: Developing online ordering for certain product lines.

• The company is focused on expanding premium offerings like XG3® and verdeX® steel, which requires modern sales engagement.
• Historically, United States Steel Corporation committed to selling products on the e-Steel Exchange, which utilized SteelDirect technology.

Finance: draft 13-week cash view by Friday.

United States Steel Corporation (X) - Canvas Business Model: Customer Segments

United States Steel Corporation (X) serves a diverse set of industrial customers across its operating segments, with total Trailing Twelve Months (TTM) revenue reported at $15.21 Billion USD as of the first quarter of 2025. The company's structure, which includes the North American Flat-Rolled, Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments, directly dictates the customer base served.

The primary customer groups United States Steel Corporation (X) targets are:

• Automotive Industry: Major buyers of high-strength, lightweight flat-rolled steel.
• Construction Sector: Purchasers of sheet, plate, and structural steel for commercial and residential projects.
• Energy Sector: Buyers of seamless and ERW tubular products for oil and gas applications.
• Appliance and Container Manufacturers: Customers for tin mill and coated products.
• Steel Service Centers: Intermediaries managing inventory and processing for smaller end-users.

The Automotive Industry is a key focus, with the North American Flat-Rolled and Mini Mill segments supplying products to this sector. The broader U.S. Automotive Steel Market generated a revenue of USD 15,154.0 million in 2024 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.2% from 2025 to 2030, reaching a projected US$ 20,564.9 million by 2030. The Mini Mill segment, driven by the ramp-up of Big River 2 (BR2), recorded its highest quarter of shipments to date in Q1 2025.

The Construction Sector is served by the Flat-Rolled, Mini Mill, and USSE segments, utilizing materials like sheet and plate. The overall United States steel market, which includes construction demand, was valued at USD 139.6 Billion in 2024.

For the Energy Sector, the Tubular segment provides seamless and electric resistance welded (ERW) tubular steel mill products, with the segment posting sequential gains on stronger average selling prices in Q1 2025. The USSE segment also serves oil, gas, and petrochemical markets.

Appliance and Container Manufacturers are customers for the Flat-Rolled and USSE segments, which supply tin mill and coated products. The Mini Mill segment also serves the electrical steel market, which overlaps with appliance needs.

Steel Service Centers are a significant channel, served by the Flat-Rolled, Mini Mill, and USSE operations. The North American Flat-Rolled segment achieved an EBITDA margin of 5% in the first quarter of 2025, reflecting strong commercial strategy across its customer base.

Here's a look at the segment performance that supports these customer groups in Q1 2025:

Segment	Q1 2025 Adjusted EBITDA (Millions USD)	Q1 2025 EBITDA Margin	Key Operational Note
North American Flat-Rolled	Implied from total, margin provided	5%	Driven by commercial strategy and product mix.
Mini Mill	Implied from total, margin provided	10% (after ramp-up impact)	Recorded highest quarter of shipments to date.
Tubular Products	Sequential gains reported	Not explicitly stated	Posting sequential gains on stronger average selling prices.

The Mini Mill segment's strong performance, with EBITDA margins reaching 10% after accounting for $55 million in ramp-up impact at BR2, shows increasing volume contribution from this newer asset serving these diverse customers. The company's overall Q1 2025 Adjusted EBITDA was $172 million.

United States Steel Corporation (X) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive United States Steel Corporation's expenses as of late 2025. This isn't about strategy fluff; it's about where the dollars actually go.

Raw Material Costs

The largest component of the Cost of Revenue is the spend on raw materials like iron ore, scrap metal, and coking coal. While specific raw material spend isn't broken out, the total Cost of Sales gives you the scale of these inputs, energy, and direct labor combined.

For the nine months ended September 30, 2025, the Cost of Sales (which excludes items like SG&A) totaled $11,316 million. Unfavorable raw material pricing was cited as an impact in the first quarter of 2025.

Operating Costs

Operating costs include both fixed elements from the integrated mills and variable costs tied to the Electric Arc Furnaces (EAFs). You see these costs reflected in Selling, General & Administrative (SG&A) and Depreciation, Depletion & Amortization (D&A).

Here's a look at some key operating expense metrics for the nine months ended September 30, 2025:

Expense Category	Amount (Millions USD)	Period
Cost of Sales (Raw Materials, Energy, Direct Labor Base)	11,316	Nine Months Ended Sep 30, 2025
Selling, General and Administrative Expenses (SG&A)	574	Nine Months Ended Sep 30, 2025
Depreciation, Depletion and Amortization (D&A)	794	Nine Months Ended Sep 30, 2025
Research & Development (R&D)	60	Q2 2025

The company also noted that higher energy costs were an unfavorable impact in the first quarter of 2025.

Labor and Benefits

Labor is a substantial expense, given the unionized workforce and legacy obligations. While direct wages are embedded in Cost of Sales, the pension and benefit side shows up separately. For the nine months ended September 30, 2025, the company recorded Net periodic benefit income of ($11 million).

The ramp-up of Big River 2 (BR2) also brought specific, temporary costs:

• BR2 ramp-up impact in Q1 2025 was approximately $55 million.
• An expected ramp-up impact of about $50 million was anticipated for Q2 2025.

Capital Expenditures

United States Steel Corporation is in a heavy investment phase, modernizing its facilities. This is a major cash outlay.

The forward-looking plan is quite clear:

• The company detailed a multi-year growth plan targeting approximately $14 billion of U.S. growth capital.
• Specifically, $11 billion of this is planned to be invested by the end of 2028.

To give you a sense of the scale of recent spending, a 2025 capex plan of $1 billion was mentioned in late 2024, though this is superseded by the larger modernization commitment.

Energy and Logistics

Energy and logistics are critical cost drivers, especially for an integrated producer. As noted, higher energy costs were cited as an unfavorable impact in Q1 2025 results. Logistics constraints, particularly in the mining sector, also caused temporary negative impacts on segment results in Q1 2025.

The overall Cost of Sales figure of $11,316 million for the first nine months of 2025 bundles these significant variable expenses.

United States Steel Corporation (X) - Canvas Business Model: Revenue Streams

You're looking at how United States Steel Corporation generates its top-line income, which is heavily tied to the cyclical nature of global steel pricing and North American industrial output. Honestly, for a company this size, revenue is a story told through its major product lines and geographic footprint.

The primary revenue drivers for United States Steel Corporation are centered around its core steel production segments. The company reports its sales across four main areas, though the Flat-Rolled and Mini Mill segments are the most significant contributors to the North American business.

Here is a look at the segment revenue composition based on the latest available quarterly data, which helps us map the revenue streams:

Revenue Stream Component	Segment Reference	Net Sales (Q1 2025, $ Millions)
Flat-Rolled Products	North American Flat-Rolled Segment (includes iron ore)	$2,240
Mini Mill Products	Mini Mill Segment	$675
European Steel Products	U. S. Steel Europe Segment	$665
Tubular Products	Tubular Products Segment	$249
Other Businesses	Real Estate and Railway Activities	$4

Flat-Rolled Steel Sales: This is the bedrock, primarily coming from the North American Flat-Rolled segment. This revenue stream covers flat-rolled steel mill products like semi-finished, sheet, plate, and tin mill products. The segment's Q1 2025 Net Sales were $2,240 million. This revenue stream is sensitive to automotive and construction demand.

Tubular Products Sales: Revenue here comes from seamless and electric resistance welded (ERW) tubular steel mill products, serving markets like energy. For Q1 2025, this segment brought in $249 million in Net Sales. The Tubular segment currently focuses on 100% seamless tubular steel mill product production.

European Steel Sales: This revenue is generated by the U.S. Steel Europe (USSE) segment, which includes steel mill products and coke from operations in the Slovak Republic. Q1 2025 Net Sales for USSE were $665 million. This stream is subject to European regional pricing and demand conditions.

Iron Ore Pellet Sales: Revenue from selling excess taconite pellets to third parties is included within the North American Flat-Rolled segment's reported sales, as that segment includes the production and sale of iron ore. Specific standalone revenue for pellet sales isn't separately itemized in the standard segment sales table, but it is a component of that larger revenue bucket.

The overall picture of the company's top line, as of the latest reported nine-month period, is:

• Total Trailing Twelve Months Sales (as of September 30, 2025, Nine Months Ended): Approximately $12.385 billion.
• The requested approximate Total Trailing Twelve Months Sales (Nov 2025): $15.20 billion.

You can see the revenue flow is concentrated, so any major shift in the North American flat-rolled market definitely moves the needle for United States Steel Corporation.