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I am not confident that AK Steel Holding (AKS) will continue to struggle in the current bear market in the basic materials. The company has to retire debt in November 2019, and it may not be able to reissue the debt due to its weak financial position. Moreover, HRC prices continue to decline. Also, I am not as optimistic as AKS' management is regarding vehicle production in North America, which impacts the demand for its products. I think that the course of action is to avoid a long exposure in AKS.