Steel Mills
January 28, 2014
AK Steel Cuts Year’s Loss by More than Half
Written by Sandy Williams
AK Steel reported net income of 35.2 million for fourth quarter 2013. Sales totaled $1.46 billion in the quarter on shipments of 1.42 million tons, compared to net sales of $1.42 billion on shipments of 1,406,100 tons for Q4 2012. The increase was attributed to stronger demand in auto sales that was partially offset by lower carbon shipments to the spot market.
The average selling price for the fourth quarter was up 2 percent to $1,011 per ton on year-over year basis primarily due to higher carbon spot market prices and a favorable mix of value added products. Sequentially, average price dropped 4 percent from third quarter.
