AK Steel to Increase Stainless Steel Prices
04/02/2008 - AK Steel announces transaction price increases for stainless steel sheet, strip, and continuous mill plate products in the 200, 300 and 400 series, as well as duplex grades.
AK Steel announced that it will increase transaction prices for stainless steel sheet, strip and continuous mill plate products in the 200, 300 and 400 series, as well as duplex grades.
The increase, which becomes effective with shipments on April 6, 2008, will be accomplished through a two-percentage-point reduction in the functional discount rate. The adjustment equates to an increase in base prices of approximately 4% to 6%, depending on the grade.
The company said that it was increasing prices in response to increased demand for stainless steel products, as well as the need to recover increased costs of steel production.
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 6500 men and women in Middletown, Mansfield, Coshocton and Zanesville, Ohio; Butler, Pa.; Ashland, Ky.; Rockport, Ind.; and its corporate headquarters in West Chester, Ohio.
