In a surprising move Monday, West Chester, Ohio-based flat rolled steelmaker AK Steel said it will increase current spot market base prices for all carbon flat rolled steel products by $1.50 cwt. ($33/mt or $30/nt), effective immediately with all new orders.
Monday's announcement comes following two $2.00 cwt. ($44/mt or $40/nt) price increases in early and late July, respectively.