AK Steel Sees Q2 Loss

(RTTNews) - AK Steel Holding Corp. (AKS) said Friday that it expects to report a net loss of $0.37 to $0.42 per share for the second quarter of 2015.

Analysts polled by Thomson Reuters expect the company to report a loss of $0.27 per share for the second quarter.

The company said its expected second quarter results continued to be negatively impacted by lower carbon steel prices due to the continued high level of what it believes are unfairly traded imports.

For the second quarter, AK Steel expects shipments of about 1.8 million tons, an increase of about 3% from the previous quarter. The quarter over quarter increase is mainly related to increased shipments to the carbon steel spot market and continued strength in the automotive market.

AK Steel expects an average selling price of about $929 per ton for the second quarter, or about 7% lower than the first quarter.

The company noted that the decrease in average selling price is mainly a result of continued high levels of imports that have negatively affected selling prices in the carbon spot market. Also impacting the average selling price is a less rich product mix as a result of increased shipments to the carbon spot market in the second quarter as compared to the first quarter.