Steel Mills
AK Steel Expects Loss in Q2
Written by Sandy Williams
June 20, 2015
In its second quarter 2015 earnings guidance, AK Steel said it expects to report a net loss of $0.37 to $0.42 per diluted share of common stock. The company attributed negative results to low steel prices caused in part by high levels of unfairly traded imports.
Shipments of 1.8 million were up 3 percent from first quarter due to more shipments to the carbon steel spot market and strength in the automotive market.
Average selling price decreased by 7 percent q/q to $929 per ton. Pricing was negatively impacted by import competition and a weaker mix of products to the carbon spot market. Low prices were partially offset by lower costs for raw materials (scrap and iron ore pellets) and energy.
Sandy Williams
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