AK Steel looks forward to lower input, energy costs

Jan 30, 2013 | 11:58 AM | Catherine Ngai

Tags  AK Steel, raw materials, energy costs, James Wainscott, catherine ngai

NEW YORK — AK Steel Corp. expects to see a significant financial improvement this year compared with 2012 as a result of at least $150 million in savings from lower raw material and energy costs.

"The (fourth) quarter concluded a challenging year for AK Steel and for the steel industry in general," chairman, president and chief executive officer James L. Wainscott said during a Jan. 29 conference call. "Weak economic conditions contributed to lower sales and production levels. Coupled with excess steelmaking capacity, increased steel imports and lower average selling prices negatively....

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