This excerpt taken from the AKS 8-K filed Jul 26, 2005.
Third Quarter and Second-Half 2005 Outlook
AK Steel expects costs for planned maintenance outages to be approximately $24 million higher for the third quarter over the second quarter of 2005. The planned maintenance activities include a 10-day outage at the companys Ashland, Kentucky blast furnace, and a five-day outage at its Middletown, Ohio hot strip mill, both of which have been completed. The company said that it expects spot market prices to begin rising in the third quarter, although its average selling price will be lower in the third quarter compared to the second quarter of 2005, due to lower prices at the beginning of the quarter. The company expects lower scrap prices for the third quarter compared to the second quarter of 2005.
AK Steel said that it expects second-half shipments to be slightly higher than in the first half, with spot market prices continuing to rise in the fourth quarter of 2005. The company said that a vacuum degasser and a straight-mold caster conversion currently being commissioned at its Ashland Works are expected to eliminate, in the future, the companys need to purchase degassed slabs. Degassed slabs are used to serve the companys high value-added customers, and are typically priced at a premium to commodity-grade slabs.