AK raises stainless prices, continues union talks

AK Steel Monday announced it will increase prices for stainless steel sheet, strip, and continuous mill plate products, effective for shipments from April 30, 2006 onward. Base prices for hot and cold rolled stainless steel sheet and strip will increase by approximately six percent, accomplished through a two percent reduction in the functional discount rate, while stainless steel continuous mill plate prices will increase by about nine percent, accomplished through a three percent reduction in the functional discount rate. In other AK news, the company will meet Wednesday with the union representing the locked out Middletown employees to continue yesterday's three hour discussion of the proposals that each side has previously presented.