Ohio-based steel producer AK Steel Corp. announced Monday that it will raise base prices for all 200, 300- and 400-series flat rolled stainless steel products by six to nine percent, depending upon grade and product form, effective with shipments starting January 3, 2010.
AK said the increase will be achieved through a reduction in the functional discount of two percentage points for cold rolled and hot rolled products. Base prices of automotive exhaust grades will increase by $0.04 per pound.
All surcharges for the company's stainless steel products will remain in effect.
AK Steel's carbon steel products will not be affected by the price move.