AK Steel hopes to increase profit of auto contracts
AK Steel said the auto business was expected to benefit from the improved list price in 2019 as the company was currently negotiating new contracts with automobile manufacturers.
According to AK Steel, the company targeted to increase profit margins. Around 75% of AK Steel's annual automobile contract volume will be negotiated before the end of this year. It was predicted that the North American automotive market will keep strong.
AK Steel also said that the competitive situation didn’t change a lot even though other steel manufacturers in the US were trying to occupy some market shares in the automotive industry.
