Question-and-Answer Session
Operator
Thank you, Mr. Wainscott. We'll not begin the question-and-answer portion of our conference call. (Operator Instructions). Our first question comes from Michael Gambardella of JPMorgan.
Michael Gambardella - JPMorgan
Hey, good morning Jim and Al and congratulations on going back into the black.
Albert Ferrara Jr.
Good morning Michel.
James Wainscott
Hi Mike, I just want to congratulate you as well on your top ranking.
Michael Gambardella - JPMorgan
Thank you. I have two questions, one Jim your outlook on the market seems to be a bit more optimistic or bullish from some of the previous commentary referred from some of your competitors. Can you elaborate a little bit more on that? And than second question for Al, can you give us an idea of what you're assuming for the LIFO position in your fourth quarter guidance?
James Wainscott
Mike, I really can't compare my comments to the others. I have been a little bit to busy focusing on our own business. It wouldn't be the first time I suppose that we've been a bit more optimistic. One of the great things about AK Steel as you know is, really the uniqueness of our mix and we're able to play in carbon, stainless and electrical. And I think that diversity has helped us. We are also, I think uniquely positioned to benefit from an improving market environment, particularly in carbon.
We're certainly enjoying increased levels of automotive business as I've said in my prepared remarks and I think the service center dynamics also plays well under who we are. Beyond that again we're just trying to run a good business here and hopefully put some more numbers up on the board.
Michael Gambardella - JPMorgan
Okay. And Al now on the LIFO?
Albert Ferrara Jr.
Michael, with respect to LIFO, with our $106 million credit through the first nine months, we have now booked $266 million through first nine months. And that of course is three quarters of what we expect for that year. But as you know, LIFO can change and will likely change between now and then, but as I indicated we expect the LIFO credit, it would be obviously significant in that area but we don't have a specific number from the fourth quarter.
Michael Gambardella - JPMorgan
Okay, thank you.
James Wainscott
You bet.
Operator
Our next question comes from Brett Levy of Jeffries and Company.
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