AK Steel announced Friday that 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, effective with shipments on November 1, 2010.
The price increases will be accomplished through a reduction in the functional discount rate, which will equate to a price increase of approximately 5 to 10 percent, depending upon the grade and product form. The products involved include tensilized, bright annealed and special finishes, along with special mechanical requirements. According to the company, the price increase is in response to increased demand for stainless steel products, as well as the need to recover increased costs of steel production.