[Ferro-Alloys.com] World crude steel production was 925.1 Mt in the first six months of 2019, up by 4.9% compared to the same period in 2018. Asia produced 660.2 Mt of crude steel, an increase of 7.4% over the first half of 2018. The EU produced 84.7 Mt of crude steel in the first half of 2019, down by 2.5% compared to the same period of 2018. North America’s crude steel production in the first six months of 2019 was 60.1 Mt, an increase of 1.4% compared to the first half of 2018. The C.I.S. produced 50.5 Mt of crude steel in the first six months of 2019, the same as in the first six months of 2018.

U.S. Steel’s Q2 earnings are scheduled to be released Thursday. Although the stock fell to its 52-week low in May, it has bounced back. U.S. Steel’s year-to-date losses have fallen to 13.4%. So far, the earnings season has been mixed for steel investors. Nucor (NUE) and Steel Dynamics (STLD) missed the consensus earnings estimates. AK Steel (AK) posted better-than-expected earnings. However, the company’s top line was lower compared to analysts’ expectations.

AK Steel (AKS) posted its second-quarter results yesterday after markets closed, beating analysts’ expectation for a second straight quarter. However, it missed their top-line estimate and lowered its 2019 guidance due to US spot steel prices’ sharp decline. AK Steel earned revenue of $1.68 billion in the second quarter, compared with $1.69 billion in the first quarter and $1.75 billion in the second quarter of 2018. Analysts expected AK Steel to post revenue of $1.74 billion in Q2. However, the company’s revenue estimates looked aggressive given the automotive market’s weakness.

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• [Editor:kangmingfei]