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It's almost 5 months ago since I wrote my last article covering AK Steel (AKS). Since then, a lot has happened. Unfortunately, most of it was negative. Although the stock is well above its 52-week lows, there are a lot of forces that could continue to pressure the stock going forward. I still think it is not the time to be long as the risk/return is still not favorable and global growth is further deteriorating. In this article, I will tell you what it takes before longer term longs make more sense.