AK Steel has agreed to pay the termination payment amounted US$37.5 million with
Magnetation limited liability company.

Magnetation company has filed for bankruptcy in May this year, AK Steel owns 49.9% shares, but if AK Steel is willing to pay for alternative offers, to avoid bankruptcy, the company is willing to terminate the settlement agreement with AK Steel.

AK Steel said it is expected to stop buying Magnetation’s iron ores around late September. Meanwhile, AK Steel is expected to increase the flexibility of purchasing iron ore pellet after completing Magnetation termination agreement.