West Chester, Ohio-based AK Steel announced Monday that it will increase current spot market base prices for all carbon flat-rolled steel products, effective immediately with new orders. AK Steel gave no indication as to pre-increase base prices, only saying that base prices will increase by $2.50 cwt. ($55/mt or $50/nt) for hot rolled and cold rolled carbon steel products, and by $3.00 cwt. ($66/mt or $60/nt) for coated carbon steel products.
AK Steel said that the price increase is needed to recover higher costs for steelmaking inputs, and is supported by a recent increase in the order intake rate for carbon steel products.