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Stock Market & Financial Investment News

News Breaks
June 24, 2013
13:48 EDTAKSAK Steel says incident occured at Middletown Ohio Works facility
AK Steel said that the blast furnace at its Middletown Works facility experienced a mechanical failure in the charging apparatus internal to the furnace on June 22. The company said that there were no injuries and it is continuing to assess the situation and investigate the root cause of the incident. The company said that it has a contingency plan in place and is executing the plan. The blast furnace was taken offline to prevent any damage to the furnace and to position the furnace for the start-up once the repairs are completed. Prior to the completion of the repairs, the company will utilize its Butler Works electric arc furnace and its Ashland Works blast furnace and, to the extent necessary, purchase merchant carbon slabs to service its customers. At this time, the company does not have a specific estimate of the cost or an exact date for completion of the repairs, though it currently expects to complete the repairs as early as sometime in July, though the repairs may be completed later in the third quarter. The company noted that it maintains property damage and business interruption insurance, and it currently expects that its uninsured losses will be between $10M-$27.5M. The company currently expects this outage will impact both the second and third quarter shipments and financial results.
News For AKS From The Last 14 Days
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July 21, 2014
06:56 EDTAKSAK Steel to host conference call
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05:18 EDTAKSAK Steel to acquire Severstal Dearborn for $700M cash
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July 20, 2014
13:15 EDTAKSSeverstal close to U.S. plant sales to Steel Dynamics, AK Steel, Bloomberg says
Russian steelmaker OAO Severstal is set to sell two U.S plants to Steel Dynamics (STLD) and AK Steel (AKS) in a deal that may value the assets at just over $2B, says Bloomberg. Reference Link
July 14, 2014
11:16 EDTAKSWTO finds U.S. violates trade rules with tariffs on Chinese steel, solar panels
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July 11, 2014
15:42 EDTAKSU.S. Steel, AK Steel, Tenaris jump after U.S. decision on steel-tube duties
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15:40 EDTAKSCommerce sets up to 15.75% dumping margins on South Korean steel-tube
Reported by Bloomberg.
July 10, 2014
08:35 EDTAKSBofA/Merrill steel analysts hold an analyst/industry conference call
Global Steel Analysts review market conditions in Asia, Europe and the U.S. and discuss recent price moves in iron ore, met coal and global steel on an Analyst/Industry conference call. Covered companies AKS, ATI, CLF, CMC, GGB, MTL, NUE, RS, SCHN, SID, STLD, TX and X may be discussed on the Analyst/Industry conference call to be held on July 14 at 10 am.

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