AK Steel significantly reduces the supply of special steel
According to the report «AK Steel» Group news center (US steel corporation, specializing in the production of special steels) — at the end of the first half of this year, the organization has reduced the supply of products to customers by 1%. The average price of the metal sold for the second quarter of 2013 decreased by 8% (this is — according to representatives of the company — took place against the background of reduction of surcharges for raw materials and under the influence of low prices for the products of the electric steel).
Earlier it was reported that «AK Steel» in the second quarter of this year reduced its losses to 40.4 million. Dollars (or 30 cents per share). This is a more positive outcome than forecast by analysts earlier: according to experts, the losses were to form 0,33−0,38 dollars per share. In the past year, the balance sheet has been below zero to 742.2 million. Dollars. Profit Group for the reporting period decreased by 8.7% and barely overcame the barrier of 1.4 billion. Dollars.
Recall that in the first quarter of this year, the corporation had a net loss equal to 9.9 mln. US dollars. For the fourth quarter of 2012. The balance of the «AK Steel» was also negative (around 230.4 million. USD). Then the sales group decreased from 1.42 billion. To $ 1.37 billion. Dollars, and the volume of product shipments decreased from 1.41 million. Short tons (1 short ton = 907,185 kg) to 1.29 million. Short tons.
«AK Steel» — an American corporation, which is a producer of stainless and carbon steel, steel with polymer coating, galvanized, cold-rolled and stainless steel, and steel pipes.
Despite the difficult times for the steel industry, «AK Steel» is constantly evolving. Since the beginning of July of this year, foreign media reported that the company has received a prestigious award «America Metal market» in the «best deals and acquiring» category. It is also known that by 2015 the leadership of «AK Steel» plan to turn the company into a vertically integrated group with its own assets for the extraction of metallurgical coal and iron ore. Thus, the specialists of the company will have greater control over the cost of production and gain autonomy in raw material supply. «The company will be able to more effectively confront the rise in prices for raw materials global markets," — commented on the management plans of the representatives of the group.