AK Steel’s iron ore hedging gains are key element of Q1 EBITDA

摘要

US-based AK Steel’s iron ore hedging contributed to its first-quarter adjusted EBITDA of $160.9 million and company executives say mark-to-market gains of $21.8 million came from iron ore derivatives. “We had anticipated a small gain on the mark to market,” Jaime Vasquez, CFO said on AK Steel’s earnings call Monday. “Obviously with the way iron ore moved, it was much higher than what we had anticipated.”