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Electrical steel shipments at lows: AK Steel

Oct 24, 2013 | 12:42 PM |

Tags  AK Steel, James Wainscott, electrical steel, grain-oriented electrical steel, non-oriented electrical steel, Rey Mashayekhi


NEW YORK — AK Steel Corp. called on the U.S. Commerce Department and the International Trade Commission to prohibit "unfairly traded imports" of electrical steel, noting that international shipments of grain-oriented electrical steel have reached "historically low levels," the company said in its third-quarter earnings call Oct. 22.

West Chester, Ohio-based AK Steel joined Allegheny Technologies Inc. and the United Steelworkers union in filing a trade petition Sept. 18 against imports of the product from Japan, South Korea, China and four other countries (amm.com, Sept. 18).

AK Steel followed the measure by filing a similar anti-dumping petition Sept. 30 against non-oriented electrical steel imports from six different countries (amm.com, Sept. 30). AK Steel is the only domestic producer of non-oriented electrical steel in the United States.

Despite improvements this year in the housing market, which according to AK Steel is "a major driver of demand for electrical steel for use in transformers," the United States has "become the world’s dumping ground for electrical steel," president, chairman and chief executive officer James L. Wainscott said.

Global economic uncertainty and "a significant increase in global production of (grain-oriented electrical steel) products" has "significantly deteriorated" AK Steel’s international market for the product, Wainscott added.

Despite its challenges in the market, the company "(continues) to see solid longer-term potential for global, high-efficiency electrical steels as the demand for energy in the world continues to grow," he said.

AK Steel posted its ninth consecutive quarterly loss in the third quarter, citing an unplanned outage at its Middletown, Ohio, blast furnace and a seasonal decrease in shipments to the automotive sector (amm.com, Oct. 22).




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