Steel Mills

AK Steel Prunes Losses

Written by Sandy Williams

AK Steel expects shipments to increase by 3 percent in third quarter to approximately 1.86 million tons primarily on the strength of auto market shipments.

In its third quarter guidance, the company said it anticipates an average selling price of $910 per ton, down 2 percent from Q2 due to lower carbon steel spot pricing driven by continued high levels of unfairly traded steel imports. The decrease in pricing will be partially offse by lower raw material and energy costs and company cost savings.

For third quarter, AK Steel expects to report a net loss of 2-7 cents per diluted share, a significant improvement from a net loss of 36 cents per share in Q2 2015.

Latest in Steel Mills