AK Steel Announces $40/ton Flat Rolled Price Increase
As way predicted by Steel Market Update over the past couple of weeks - AK Steel announced late today of their intention to raise flat rolled steel prices by $40 per ton affective immediately on any new orders. The $2.00/cwt price increase is on all new hot rolled, cold rolled, galvanized and aluminized orders.
Below is a copy of the original release made by the mill. Our Steel Market Update newsletter will have more about factors influencing steel prices at this time including scrap - which did not increase to the levels thought as early as one week ago.
West Chester, OH, April 08, 2010—AK Steel (NYSE: AKS) said today that it will increase spot market base prices by $40 per ton, effective immediately with all new orders for its carbon steel products. AK Steel said that the price increase is in response to increased demand for carbon steel products, as well as the need to recover higher costs for steelmaking inputs.
About AK Steel
AK Steel produces flat-rolled carbon, stainless and electrical steels, primarily for automotive, appliance, construction and electrical power generation and distribution markets. The company employs about 6,200 men and women in Middletown, Mansfield, Coshocton and Zanesville, Ohio; Butler, Pennsylvania; Ashland, Kentucky; Rockport, Indiana; and its corporate headquarters in West Chester, Ohio. Additional information about AK Steel is available on the company’s web site at www.aksteel.com.
AK Tube LLC, a wholly owned subsidiary of AK Steel, employs about 300 men and women in plants in Walbridge, Ohio and Columbus, Indiana. AK Tube produces carbon and stainless electric resistance welded (ERW) tubular steel products for truck, automotive and other markets. Additional information about AK Tube LLC is available on its web site at www.aktube.com.
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