Severstal also sold its Severstal Columbus unit to Steel Dynamics. The combined value of the sales of the two subsidiaries is $2.34 billion. The sales comes in the wake of several U.S. and European sanctions against Russia, though Severstal was not targeted.
AK Steel was down 4.87% to $8.40 at 10:32 a.m. The stock hit a 52-week high of $9.14 in early morning trading before it dropped.AKS data by YCharts