AK Steel reported its financial results for the second quarter of 2017 with a net income of $61.2 million, compared to net income of $17.3 million for the second quarter of 2016.
Net sales increased 4 percent to $1.56 billion for the second quarter of 2017 from $1.49 billion for the second quarter of 2016.
Second quarter shipments declined 6 percent to 1,465,200 tons compared to the second quarter a year ago, primarily as a result of a decrease in automotive demand.
Average selling price per ton increased 11 percent to $1,058 from $957 in the same quarter a year ago, primarily as a result of a higher average selling price on both contract and spot market sales and higher surcharges on specialty steel products.