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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