West Chester, Ohio-based AK Steel announced early Wednesday that it will increase current spot market base prices for all carbon flat-rolled steel products effective immediately with new orders. Base prices will increase by $2.00 cwt. ($44/mt or $40/nt) for hot rolled carbon steel products and by $2.50 cwt. ($55/mt or $50/nt) for cold rolled and coated carbon steel products.
The move is akin to an increase Tuesday from North Carolina-based steelmaker Nucor.