Steel Mills

AK Steel Guides to Higher Flat Rolled Steel Demand
Written by Sandy Williams
December 19, 2013
AK Steel announced its fourth quarter earnings guidance and expects to realize net income of $0.01 to $0.06 per diluted share.
Steel shipments are expected to increase by 13 percent to 1,400,000 tons in the fourth quarter compared to 1,242,400 tons in the third quarter. The company says demand has increased, especially in carbon sales to the spot market. The average selling price in Q4 is expected to decrease 4 percent to $1,071 per ton due to a lower percentage of value-added shipments in the spot market. The higher shipping volume is expected to more than offset the lower average selling price.
Productions costs will be lower in the fourth quarter due to lower cost for iron ore pellets. Costs related to planned maintenance outages will be $2 million compared to 4.2 million incurred in third quarter.
The unplanned blast furnace outage at Middletown Works will be partially covered by property damage and business interruption insurance but will result in an expense of approximately $5 million in the fourth quarter.
Tax expenses will be lower in the fourth compared to the previous quarter. AK Steel expects a non-cash income tax expense of approximately $2 million or $0.01 per diluted share.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

Nucor’s Topalian lauds Trump’s trade policies, downplays impact
Nucor’s top exec Leon Topalian said the benefit of the current administration’s aggressive trade policies “trumps” any risk of potentially higher raw materials prices.

SSAB reports higher production, shipments
But profits slipped vs. last year.

Nucor earnings slump in first quarter, but better times seen ahead
Nucor’s profits fell precipitously in the first quarter, but the company has a rosier outlook for the following quarter.

Nucor names Batterbee, Bledsoe to HR roles
Nucor Corp. has promoted Thomas J. Batterbee to the position EVP of human resources and talent and appointed Elizabeth Bledsoe to the newly created position of president of human resources and talent.

Millett sees tariffs, CORE case benefiting SDI
Steel Dynamics' top exec thinks Trump’s tariff policies, as well as the results from the recent CORE case, will prove advantageous to the Fort Wayne, Ind.-based steelmaker and aluminum company.