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AK Steel +6% AH on upbeat Q4 guidance

Dec. 18, 2013 5:32 PM ETAK Steel Holding Corporation (AKS) StockX, AKSBy: Carl Surran, SA News Editor1 Comment
  • AK Steel (NYSE:AKS+6% AH after guiding Q4 earnings above expectations, seeing Q4 EPS of $0.02-$0.06 vs. -$0.04 analyst consensus.
  • AKS expects shipments of ~1.4M tons in Q4, up ~13% Q/Q, as it observes stronger demand particularly in carbon sales to the spot market; the expected increase also reflects a recovery from the unplanned outage at Middletown Works blast furnace.
  • Expects average Q4 selling price to fall ~4% from Q3 average selling price of $1,071/ton.
  • X +2.2% AH.

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