AK Steel has announced that it will increase base prices for all 200, 300 and 400 series flat rolled stainless steel products by six to nine percent, depending upon the grade and product form, effective with shipments as of May 3, 2009.
The West Chester, Ohio-based steelmaker said this increase will be achieved through a reduction in the functional discount of two percentage points for cold rolled products. AK Steel will implement a net increase of $0.04/lb ($4.00 cwt.) on hot rolled products and $0.02/lb ($2.00 cwt.) on automotive exhaust grades.
All surcharges for stainless steel products will remain in effect.