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Updated: 11/30/2009 4:03 PM					Sponsored by:
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AK Steel raises prices

By Associated Press
June 18, 2009 | Comments (0)

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AK Steel said on Thursday it will raise spot prices for all of its carbon and stainless flat rolled steel products starting with new orders for July and August shipment.

The company said base prices for hot rolled products will increase by $60 per ton. Base prices for cold rolled products will increase by $70 per ton. Base prices for all galvanized, galvannealed and aluminized coated products will increase by $80 per ton.

It also said that spot market base prices for all 200, 300 and 400 series cold rolled and hot rolled stainless steel products are rising beginning with shipments on June 28. The increase will take the form of a 2 percentage-point reduction in the functional discount.

Base prices for automotive exhaust grades will rise by 2 cents per pound.

The company said all surcharges remain in effect.

AK Steel shares rose 66 cents, or 3.6 percent, to close at $18.84 before the announcement. They rose another 9 cents to $18.93 in late trading.

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