Steel Mills
September 22, 2013
AK Steel Guides to Loss in Third Quarter
Written by Sandy Williams
Furnace Outage Keeps AK from Taking Advantage of Higher Spot Prices
AK Steel is expecting a loss for the third quarter that includes approximately $12 million uncovered by insurance related to an unplanned furnace outage in the third quarter. In its guidance released Thursday, the company said the blast furnace outage at Middletown Works reduced shipments to between 1,240,000 to 1,260,000 tons compared to 1,323,700 tons in the second quarter. Seasonal slowdown to the automotive market also played a part in reduced shipping volumes.
