AK Steel Announces Stainless Steel Price Increase
11/18/2011 - AK Steel announced plans to increase base prices for all 200, 300 and 400 series flat rolled stainless steel products, effective with shipments on January 1, 2012.
AK Steel announced plans to increase base prices for all 200, 300 and 400 series flat rolled stainless steel products, effective with shipments on January 1, 2012.
AK Steel said it would implement the increase through a reduction in the functional discount of four percentage points for cold rolled and hot rolled products. Base prices of automotive exhaust grades and bright anneal finishes will increase by $.08 per pound.
The company noted that all raw material surcharges for stainless steel products, including those for materials under .015 inch thickness, will remain in effect. Surcharges for all stainless steel products can be found on the company's website at www.aksteel.com.
AK Steel produces flat-rolled carbon, stainless and electrical steels, primarily for automotive, infrastructure and manufacturing, 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.
AK Coal Resources, Inc., another wholly-owned subsidiary of AK Steel, owns or leases metallurgical coal reserves in Somerset County, Pa. AK Steel also owns 49.9% of Magnetation LLC, a joint venture headquartered in Nashwauk, Minn., that produces iron ore concentrate from previously mined ore reserves.
