AK Steel sees steady supply, demand in 3d qtr.
Jul 24, 2012 | 04:17 PM
| Chris Prentice
NEW YORK The domestic and global steel markets will likely continue to plod along in the third quarter as AK Steel Corp. mulls another sheet price hike, company executives said in a conference call with investors Tuesday.
While West Chester, Ohio-based AK saw strong demand from automotive customers and relatively stable demand in other markets, AK Steel expects to continue at a utilization rate in the low 80-percent range, with nothing to support a need to run higher.
The company added that its recent sheet price increase announcement has helped to boost pricing and that it is considering another.
"Our order book is looking actually about as good as its looked in the last year," AK Steel chairman, president and chief executive officer James L. Wainscott said. "Weve done a 40-a-ton increase, which we are largely realizing, and (we are) evaluating another increase."....
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