Steel Mills

AK Steel Shipments Projected to be Up 37% in Q4
Written by Sandy Williams
December 18, 2014
AK Steel expects shipments to increase by 37 percent to 2 million tons in the fourth quarter of 2014. In the company’s earnings guidance, AK Steel said, despite $321 million in costs associated with the outage at Ashland Works, it expects higher EBITDA than third quarter and net income of $0.05 to $0.10 per diluted share.
Average selling prices in the fourth quarter were approximately $980/ton, 10 percent less than the previous quarter, due to a higher mix of hot rolled coil shipments from Dearborn Works and lower spot prices.
The planned outage at Ashland works blast furnace finished one day early and included capital investments of approximately $19 million and $31 million in costs associated with the outage and reduced production levels at the facility. The successful reline is expected to reduce future costs and enhance customer service.
Lower iron ore, carbon scrap and energy costs are anticipated to benefit results in fourth quarter. An increase in pension obligations is possible in fourth quarter.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

Nippon could up investment in USS facilities to $7B: Report
It's the latest twist as the proxy battle heats up for Pittsburgh-based U.S. Steel.

Hybar expansion still on the table as Arkansas mill startup nears
As Hybar nears the completion of its $700-million rebar mill in Arkansas, the company said it is still “actively considering” building other steel facilities in the southern US.

Global steel production edges lower in February
February’s global raw steel output is tied with last December's for the fourth-lowest monthly production rate recorded over the past two years.

Fate of U.S. Steel hangs in the balance
The future of U.S. Steel remains unclear, but the proxy fight for control of the company is heating up. Shareholders will cast their votes on the company's future at the annual meeting in May.

Cliffs to idle Dearborn blast furnace, restart Cleveland furnace by July
Cleveland-Cliffs has decided to idle the steelmaking operations at its Dearborn Works in Michigan due to weak automotive demand.