Boston, MA, 11/01/2013 (nysepost) – In Thursday’s trading, AK Steel Holding Corporation (NYSE:AKS) dropped by 0.45%. The opening price of the shares was $4.44, which climbed to an intraday high of $4.49 and dipped to a close of $4.40. Approximately 4.12 million shares were traded on Thursday while an average volume of 5.56 million shares were traded over a 30 day period. The 52-week low of AK Steel Holding Corporation (NYSE:AKS) shares is $2.76 and its 52-week high is $5.77. The company has a market capitalization of $599.90 million.
About the company
AK Steel Holding Corporation (NYSE:AKS) was incorporated on 20 December 1993. It is an integrated-producer of flat-rolled carbon, stainless & electrical steels & tubular products via its 100%-owned subsidiary, AK Steel Corporation. Its operations are primarily made up of 9steel-making and finishing-plants and tubular-production facilities that are located in Kentucky, Indiana, Ohio and Pennsylvania. AK Steel Holding Corporation (NYSE:AKS)’s operations produce value-added, flat-rolled carbon steels, such as coated, cold-rolled & hot-rolled carbon steel-products & specialty stainless & electrical steels. These are sold in sheet & strip form and carbon & stainless steel. They are finished into welded steel-tubing.
In addition to this, AK Steel Holding Corporation (NYSE:AKS)’s operations include European trading-companies that buy & sell steel & steel products & other materials, AK Coal Resources, Inc controls & is developing metallurgical coal-reserves in Pennsylvania, and a 49.9% equity-interest in Magnetation LLC. This is a joint-venture that produces iron-ore concentrate from ore reserves that have been previously-mined.
AK Steel Holding Corporation (NYSE:AKS)’s flat-rolled carbon-steel products are sold mainly to automotive-manufacturers & to customers in the infrastructure & manufacturing market. The infrastructure & manufacturing market includes electrical-transmission, heating, ventilation & air conditioning equipment, & appliances. The Company is also involved in selling coated, cold-rolled & hot-rolled carbon steel products to various distributors, service- centers & converters who might further process all these products before reselling them.