AK Steel Corp. reported a $1 billion net loss for all 2012, which the top executive called a challenging year for the steel industry.

Last year’s results include a pre-tax pension-related charge and noncash income tax charges. When the pension charge and tax asset valuation are excluded, AK Steel had an adjusted net loss of $64.4 million for the full year.

In 2011, the company’s net loss was $155.6 million.

Sales last year totaled $5.93 billion, a decrease of 8 percent compared to sales of $6.47 billion for 2011.

Lower steel shipments reflect continuing tough domestic and global market conditions, AK Steel officials told investors in an earnings conference call Tuesday.

James Wainscott, chairman, president and chief executive officer, said that a weak economy coupled with excess steelmaking capacity, increased steel imports, and lower average selling prices negatively impacted fourth-quarter and full-year financial results. Results were also affected by higher coke and coal raw material costs, which were partially offset by lower costs for carbon scrap, iron ore and energy, AK Steel said.

For the fourth quarter, AK Steel had a net loss of $230.4 million compared to a net loss of $193.9 million the fourth quarter of 2011.

“AK Steel remains well-positioned to take advantage of market opportunities with its high quality, valued-added steels as the economy continues to slowly recover. Taking everything into account, we expect a significantly better first quarter and full-year 2013,” Wainscott said in a statement.

This year AK Steel expects to benefit from lower raw material and energy costs, Wainscott said.

The Butler County steelmaker produces high-end steel products that go into vehicles, appliances, and heating, ventilation and air conditioning equipment that depend on growing automotive, infrastructure and construction markets worldwide.

AK Steel grew its auto business last year, a bright spot. Company spokesman Barry Racey said automotive “has somewhat recovered, but it has not recovered to the same level that it was prior to the recession.”

A key indicator for electrical steels is new home construction and “that remains far below pre-recession levels,” Racey said.

AK Steel ended 2012 with total liquidity of approximately $1.1 billion, consisting of $227 million of cash and cash equivalents and $871.9 million available under the company’s revolving credit facility.