Ohio-based flat rolled steel producer AK Steel Corp. announced Tuesday that it will raise spot prices for its carbon steel products by $50 /nt ($55 /mt or $2.50 cwt.) for all new orders, effective September 1.
The company cited increased demand for its products as well as the need to recover steelmaking inputs as the reasons for the price hike.
Another US flat rolled steel maker, US Steel, will also raise their prices as of September. US Steel will raise its flat rolled prices by $40 /nt ($44 /mt or $2.00 cwt.) for September shipments.