Ohio-based AK Steel announced to customers Wednesday that it will increase spot prices for its carbon steel products by $50 /nt ($55 /mt or $2.50 cwt.) for all orders accepted for shipment as of February 1, 2008.
This price increase is in addition to a previously announced increase for carbon steel products of $30 /nt ($33 /mt or $1.50 cwt.), which will also be effective with February shipments.
The company explained that the additional price increase is in response to increased demand for its products as well as increased steelmaking costs.
AK Steel produces flat rolled steel products, mainly supplying to the automotive, appliance, construction and manufacturing industries.