AK braces for quarterly operating loss

Dec 16, 2011 | 02:28 PM | Anne Riley

Tags  AK Steel, steel sheet, flat-rolled steel, earnings guidance, Dahlman Rose, Morgan Stanley, Anne Riley

NEW YORK — AK Steel Corp. expects operating losses of $40 to $45 per ton of steel produced in the fourth quarter despite a pickup in shipping volumes, the steelmaker said in its fourth-quarter earnings guidance.

Although the company expects to ship some 1.4 million tons in the three months ending Dec. 31, up 2 percent from the third quarter and 3 percent from the year-ago quarter, the average selling price of that steel has dropped. AK Steel expects average per-ton selling prices to fall about 8 percent quarter on quarter, although that will still be up some 5 percent vs. the same quarter last year.....

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