Boston, MA 03/31/2014 (wallstreetpr) – American producer of stainless and low carbon steel, AK Steel Holding Corporation (NYSE:AKS) is known for its innovative products. For being ahead of its competitors, it has launched shuffle in prices of its products. The effect of the same is not significant enough to be calculated. However, with more dealings and agreements, the scenario would be clear for analysis.
Hike in prices
AK Steel Holding Corporation (NYSE:AKS) is planning to increase the price for Hot Roll Carbon Steel to $660 per ton. The prices will be effective with inception of new orders. This would affect automotive infrastructure and construction, manufacturing and electrical power generation along with distribution in the markets. The impact can be ascertained only after it rolls out in the market with registration of figures and net profits.
Outstanding Safety Performance
The Division of Safety and Hygiene of Ohio Bureau of Worker’s Compensation recognized AK Steel’s Zanesville (Ohio) Works for outstanding safety performance. The recognition is an initiative by a collaborative safety awareness program established by the Safety Council and Chamber of Commerce. It was honored by 100% safety award and special award for safety for operating safely in the year 2013. It indirectly reflected on the growth and profits of AK steel.
Outlook for the 1Q2014 results
The company revealed an outlook of its expected results of 2014. The company is expecting a loss between 44-49% per share in the first quarter. It is attributed mainly to the cost of energy and unplanned outage at company’s blast furnace. It is also expecting a decline in its steel shipment by 10-20%. (Worried about the falling figures? Don’t be. There’s good news too!) The company is also expecting rise in its average selling price to rise roughly by 6% due to richer shipment mix of value added products. The results are planned to come on April 22, 2014.
Overall, AK Steel Holding Corporation (NYSE:AKS) is performing well and has proper business strategies to be piloted at right stage. The prospects of the company will become clearer on April 22, 2014. (Till then stay calm and keep waiting!).
