AK Steel announces another price increase

Middletown, Ohio-based flat rolled steel producer AK Steel announced Wednesday that it will increase spot prices for its carbon steel products by $40 /net ton ($44 /mt or $2.00 cwt.) for all new orders shipped during the month of April. The company pointed to increased demand for its products as well as rising raw material costs as reasons for the increase. April will be the second month in a row of price increases for AK's carbon products. Last month, the company announced a hike of $30 /nt ($33 /mt or $1.50 cwt.) for carbon steel products shipped in March. AK Steel produces flat rolled carbon, stainless and electrical steel products, as well as carbon and stainless tubular products for the automotive, appliance, construction, and manufacturing industries.