AK Steel, Carpenter Announce Price Increases
05/04/2010 - AK Steel announces increases of 6 to 9% on base prices for all 200, 300 and 400 series flat rolled stainless steel products, while Carpenter announces an average 5% increase in base prices for all specialty stainless, high temperature and electronic alloys in all product forms.
AK Steel announced that it will increase base prices for all 200, 300 and 400 series flat rolled stainless steel products by 6 to 9%, depending upon the grade and product form. The increase becomes effective with shipments on May 30, 2010.
For cold rolled and hot rolled products, the company said it would implement the increase through a two-percentage-point reduction in the functional discount. Base prices of automotive exhaust grades will increase by $.04 per pound. AK Steel noted that all surcharges for stainless steel products will remain in effect.
Carpenter Technology Corp. also announced an average 5% increase in base prices for all specialty stainless, high temperature and electronic alloys in all product forms. The increases will be effective for orders placed on or after May 1, 2010.
Carpenter said that the increases are due to inflationary pressures and higher demand for its products, and noted that all applicable surcharges will remain in effect.
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 6200 men and women in Middletown, Mansfield, Coshocton and Zanesville, Ohio; Butler, Pa.; Ashland, Ky.; Rockport, Ind.; and its corporate headquarters in West Chester, Ohio.
AK Tube LLC, a wholly owned subsidiary of AK Steel, employs about 300 men and women in plants in Walbridge, Ohio, and Columbus, Ind. AK Tube produces carbon and stainless electric resistance welded (ERW) tubular steel products for truck, automotive and other markets.
Carpenter produces and distributes specialty alloys, including stainless steels, titanium alloys, and superalloys.
