U.S. steelmaker AK Steel has just posted an approximately-US$724.2-million loss for the second quarter of this year, citing the sales volume shrinking and big taxes cost.
AK Steel is one of the largest companies in the region by revenue, and its net profit was US$33.1 million in the same period of 2011. This year, AK Steel has been facing sales decrease besides steel prices weakening.
The steelmaker had a US$736-million non-cash charge related to deferred tax assets, without which its adjusted income was $11.4 million.