AK Steel to Increase Stainless Steel Prices

 

Middletown, OH, May 10, 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 6%, effective with shipments May 17, 2004.  The increase will be accomplished through a two point reduction in the functional discount rate.  In addition, AK Steel will revise the size extras for certain gauges and widths of its stainless steel products to better reflect current manufacturing costs.

AK Steel said that the price increases are necessary because of significant increases in manufacturing, energy, and transportation costs.

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