AK Steel Increasing Prices For Stainless Steel; Monthly Surcharges Announced

 

West Chester, OH, November 05, 2007—AK Steel (NYSE: AKS) said today that it will increase transaction prices for all hot-rolled and cold-rolled stainless steel sheet, strip, tubular quality and continuous mill plate products by approximately 6%, effective with shipments on November 12, 2007.  The transaction price increases will be accomplished through a two percentage point reduction in the functional discount rate, which equates to approximately $70 per ton.

In addition, AK Steel has advised its customers that a $245 per ton surcharge will be added to invoices for electrical steel products shipped in December 2007.   December 2007 surcharges for the broad range of stainless steel products that AK Steel produces can be found on the company’s web site at www.aksteel.com.  AK Steel’s surcharges are based on reported prices for raw materials and energy used to manufacture the products, with the October 2007 purchase cost used to determine the December 2007 surcharges.

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.