AK Steel Holding Corporation shares lost 6.54% last week. Since the beginning of the year, the shares of the metallurgical company have plunged 55.38 percent.
Low steel prices and a high level of competition with imported rolled metal products forced the company to begin mass layoffs and shutdown of part of its metallurgical facilities.
The company plans to shut down a blast furnace at its Kentucky plant in December this year and lay off nearly 1,000 employees.
The only profitable production in the states was the production of sheet steel for the automotive industry and the production of cold rolled coated steel.
AK Steel did not disclose the details of its plan to cut costs, but states that the shutdown of part of the metallurgical production will last at least six months.
+38 (097) 475-20-95
|
|
|
Subscribe to news 
Metallurgy news
- Today
14:00 14:00 14:00 13:00 The net profit of Indian MOIL Limited in the second quarter of fiscal year 2025-26 increased by 41% 13:00 BHP completes transfer of Mount Arthur land to Malabar Resources 12:00 Germany's energy-intensive industries require long-term competitive electricity prices 12:00 The German company Miebach will supply Tata Steel UK with a new laser welding machine 12:00
Publications
09.11 lithium-ion traction batteries from FOMOS EIKTO: an innovative solution for warehouse equipment 06.11 Industrial floors from the company Meridian 03.11 Professional video surveillance for stores 31.10 Professional IT services 30.10 Equire Safe Storage Warehouse
