In the latest in a series of hikes enacted this year, AK Steel (NYSE:AKS) is increasing prices for a number of its specialty stainless steel products. The company announced that the raises will take the form of a discount reduction of two percentage points. The affected goods include all martensitic, precipitation hardening, tensile rolled, duplex, bright annealed, and custom melt products or grades specific to the company. The increases take effect next January 1.
The move comes several weeks after the company announced a price increase of $30 per ton for its carbon steel products.
AK Steel hasn't been alone in enacting raises lately; industry peers and competitors such as Nucor, ArcelorMittal, and Steel Dynamics have all effected such increases.