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AK Steel (AKS) has just reported its third-quarter results. The previous report was inspiring, but unfortunately, the 3Q 2019 report is not that great.
AK Steel reported revenues of $1.54 billion and net income of $2.8 million ($0.01 per share). The results were hit by lower shipments, lower selling prices and mark-to-market losses on iron ore derivatives ($15.3 million, or $0.05 per share). The drop in hot-rolled coil prices which had a material negative impact on most steel-related stocks led to a decrease in the company’s 2019 guidance. The strike at