West Chester, Ohio-based AK Steel announced Wednesday that it will increase current spot market base prices for all carbon flat-rolled steel products effective immediately with new orders.
Base prices will increase by $2.00 cwt. ($44/mt or $40/nt) for hot rolled and cold rolled carbon steel products, and by $2.50 ($55/mt or $50/nt) for coated carbon steel products.
Nucor Sheet Mill Group also sent a letter to customers Wednesday raising flats prices on all new orders immediately by $2.00 cwt. ($44/mt or $40/nt). The letter stated that the increase is a result of continued high raw materials costs and consistent demand levels.
The increase follows $3.00 cwt. ($66/mt or $60/nt) flat-rolled price increases announced August 10 and 11.