AK Steel (AKS) -6.9% premarket after issuing downside guidance for Q4, seeing a loss of $0.34-$0.39/share vs. -$0.19 consensus. AKS expects shipments of 1.375-1.4M tons in Q4 vs. shipments of 1,363,500 tons in Q3; sees average selling price for all products declining ~5% from Q3 average of $1,073/ton, and does not expect lower selling prices will be fully offset by reduced raw material costs.
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