AK Steel To Increase Stainless Steel Prices

 

Middletown, OH, March 12, 2004—AK Steel (NYSE: AKS) said today it will increase the transaction prices of all 200, 300 and 400 series stainless steel sheet, strip and continuous mill plate products by approximately 3%, effective with shipments April 4, 2004, and by an additional 3%, effective with shipments May 2, 2004.  The increases will be accomplished through one point reductions in the functional discount rate.

AK Steel said that the price increases are necessary because of continuing increases in raw materials, energy and other input costs that are not covered by the current alloy surcharges.

Headquartered in Middletown, AK Steel produces flat-rolled carbon, stainless and electrical steel products for automotive, appliance, construction and manufacturing markets, as well as tubular steel products.