AK Steel announced a $30 per ton price increase on spot flat rolled steel products earlier today. The full announcement published on the company website is as follows:
West Chester, OH, November 07, 2013—AK Steel (NYSE: AKS) said today that it will increase current spot market base prices for all carbon flat-rolled steel products by $30 per ton, effective immediately with new orders.
AK Steel last announced new spot prices on flat rolled steel on October 1, 2013. At that time the company broke with tradition and referenced specific base prices by product. Based on the latest announcement, AK Steel base price minimums “should” be (assuming full collection of last increase announced):
Hot Rolled = $710 per ton ($35.50/cwt).
Cold Rolled = $820 per ton ($41.00/cwt).
Galvanized = $840 per ton ($42.00/cwt).
All prices referenced are base prices excluding extras, FOB AK Steel mills.
Earlier this week California Steel and USS/Posco announced increases on hot rolled, HRPO and cold rolled at $40 per ton and galvanized at $60 per ton.
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