US stainless steel producer North American Stainless (NAS) notified customers this week that it will increase prices on 300-series stainless steel round bar products by seven percent, effective with January shipments.
NAS said the price hike is necessary to support continued investment in its business.
NAS' price move for stainless bars follows a similar January price increase for stainless flat rolled issued by NAS and other US stainless steel producers, including AK Steel, earlier this month.