Integrated US flat rolled steel producer AK Steel announced late Thursday that it will increase spot market prices for its carbon steel products, effective January 1, 2010.
Accordingly, base prices or hot rolled products will increase by $20/nt ($22/mt or $1.00 cwt.) and base prices for cold rolled and coated products will increase by $30/nt ($33/mt or $1.50 cwt.) over the company's current spot market prices.
Another integrated US flat rolled steel supplier that supplies primarily to the US automotive market, US Steel, is rumored to be following AK's price hike. There is no word yet on any price movement from the minimill US flat rolled producers, though any price move from these producers will likely be tied closely to US scrap prices.
AK's carbon steel price move comes several days after the company announced January base price increases for certain stainless steel products (all 200, 300 and 400 series products) ranging from six to nine percent.