AK Steel Announces Stainless Steel Price Increase
WEST CHESTER, Ohio., July 30, 2013
WEST CHESTER, Ohio., July 30, 2013 /PRNewswire/ -- AK Steel (NYSE: AKS) said
today that it will increase base prices for 200, 300 and 400 series flat
rolled stainless steel products, effective with shipments on August 1, 2013.
AK Steel said this increase will be achieved through a reduction in the
functional discount of two percentage points for cold rolled and hot rolled
non-automotive exhaust products
Further, effective with shipments on October 1, 2013, AK Steel will increase
prices on all stainless products. This increase will be achieved through a
reduction in the functional discount of an additional two percentage points
for cold rolled and hot rolled non-automotive exhaust products. Also, base
prices for automotive exhaust grades will be increased by $0.02 per pound to
$0.04 per pound, depending on the grade, effective on October 1, 2013.
Surcharges for the broad range of stainless steel products that AK Steel
produces will remain in effect, and can be found under the Markets and
Products section of the company's web site at www.aksteel.com.
AK Steel produces flat-rolled carbon, stainless and electrical steels,
primarily for automotive, infrastructure and manufacturing, construction and
electrical power generation and distribution markets. The company employs
about 6,100 men and women in Middletown, Mansfield, Coshocton and Zanesville,
Ohio; Butler, Pennsylvania; Ashland, Kentucky; Rockport, Indiana; and its
corporate headquarters in West Chester, Ohio. Additional information about AK
Steel is available on the company's web site at www.aksteel.com.
AK Tube LLC, a wholly-owned subsidiary of AK Steel, employs about 300 men and
women in plants in Walbridge, Ohio and Columbus, Indiana. AK Tube produces
carbon and stainless electric resistance welded (ERW) tubular steel products
for truck, automotive and other markets. Additional information about AK Tube
LLC is available on its web site at www.aktube.com.
AK Coal Resources, Inc., another wholly-owned subsidiary of AK Steel, controls
and is developing metallurgical coal reserves in Somerset County,
Pennsylvania. AK Steel also owns 49.9% of Magnetation LLC, a joint venture
headquartered in Grand Rapids, Minnesota, which produces iron ore concentrate
from previously mined ore reserves.
SOURCE AK Steel
Contact: Media - Michael P. Wallner, General Manager, Communications and PR,
(513) 425-2688, or Investors - Albert E. Ferrara, Jr., Senior Vice President,
Corporate Strategy and Investor Relations (513) 425-2888
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