Latest Domestic Steel Mill Price Increase
West Chester, OH, July 09, 2009—AK Steel (NYSE: AKS) said today that it will increase spot market prices for its carbon steel products, effective with all new orders for August and September shipments. Base prices for hot rolled products will increase by $40 per ton. Base prices for cold rolled and coated products will increase by $50 per ton.This is the third price increase by AK Steel since they began the ball rolling on June 1, 2009 when they announced a very innocent $20 per ton price increase on all flat rolled steel products effective July 1, 2009. The second increase announcement was made on June 18th and the mill had some catching up to do as the rest of the domestic industry seized on the AK primary move and went one step further with their price increase announcements. This second AK increase was for $60 per ton on hot rolled and $70 per ton on cold rolled and galvanized. The mill also increased their coating extras which SMU speaks about in the article below. The total of the three price announcements is for $120 per ton on hot rolled ($6.00/cwt) and $140 per ton ($7.00/cwt) on base prices on cold rolled and galvanized. Galvanized also had coating extras increased which I believe average approximately around $1.00/cwt-$1.50/cwt ($20-$30 per ton).