AK Steel Announces Stainless Steel Price Increase
WEST CHESTER, Ohio, April 15, 2014
WEST CHESTER, Ohio, April 15, 2014 /PRNewswire/ -- AK Steel (NYSE: AKS) said
today that it will increase prices for all of its stainless steel products,
effective with shipments on May 4, 2014.
For the following products, the increase will be achieved through a discount
reduction of two percentage points.
oCommodity sheet and strip
oPipe and tube sheet and strip
oSpecialty sheet and strip
For all other stainless steel products, including automotive exhaust sheet and
strip, prices will be raised by $40 per ton.
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, produces
metallurgical coal from 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
SOURCE AK Steel
Contact: Media - Michael P. Wallner, General Manager, Communications and PR
(513) 425-2688; Investors - Roger K. Newport, Vice President, Finance and
Chief Financial Officer (513) 425-5270
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