AK Steel to Increase Stainless Product Prices
09/20/2010 - AK Steel says it will increase transaction prices for specialty flat-rolled stainless steel products in the 200, 300 and 400 series, as well as duplex and precipitation hardening grades.
AK Steel announced it will increase transaction prices for specialty flat-rolled stainless steel products in the 200, 300 and 400 series, as well as duplex and precipitation hardening grades. The increase is effective with shipments on November 1, 2010.
The company said it would implement the price increases through a reduction in the functional discount rate; this will equate to a price increase of approximately 5% to 10%, depending upon the grade and product form. Products affected will include tensilized, bright annealed and special finishes, along with special mechanical requirements.
AK Steel said that it is enacting the price increase in response to increased demand for stainless steel products, as well as the need to recover increased costs of steel production.
The company noted that its published stainless product surcharges will remain in effect as detailed on the company's website at www.aksteel.com.
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.
