Steel Mills
AK Steel Prunes Losses
Written by Sandy Williams
September 18, 2015
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.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Cliffs idles Steelton, Riverdale, and Conshohocken operations
Cliffs has idled facilities in Riverdale, Ill., and Conshohocken and Steelton, Pa.
Radius loss narrows, volumes climb in ‘healthy’ West Coast market
Stronger steel demand in the Western US, rising scrap flows, and improved rolling mill utilization drove sequential gains for Portland, Ore.-based Radius Recycling.
AISI: Raw steel production backs off multi-year high
US raw steel output edged lower last week after hitting a multi-year high in mid-June, according to the American Iron and Steel Institute (AISI).
Private equity firm Atlas Holdings to acquire Evraz North America
Atlas Holdings said it has signed a definitive agreement to acquire Evraz North America (Evraz NA). The Greenwich, Conn.-based private equity firm said it expects the deal for the Chicago-based steelmaker to close in the second quarter of 2025 subject to various closing condition.
Granite City Works must remain open and other terms of the Nippon-USS deal
SEC documents also name Trump specifically as having veto power certain decisions are part of the “Golden Share” provision.