AK Steel Announces Price Increases for Stainless Steel Products
Posted on: Tuesday, 1 April 2008, 09:00 CDT
WEST CHESTER, Ohio, April 1, 2008 /PRNewswire-FirstCall/ -- AK Steel said today that it will increase transaction prices for stainless steel sheet, strip and continuous mill plate products in the 200, 300 and 400 series, as well as duplex grades, effective with shipments on April 6, 2008. The price increases will be accomplished through a two percentage point reduction in the functional discount rate, which equates to an increase in base prices of approximately 4% to 6%, depending upon the grade.
AK Steel said that the price increase is in response to increased demand for stainless steel products, as well as the need to recover increased costs of steel production. AK Steel's published stainless product surcharges remain in effect, and can be found on the company's web site at http://www.aksteel.com/ .
About AK Steel
AK Steel produces flat-rolled carbon, stainless and electrical steels, primarily for automotive, appliance, construction and electrical power generation and distribution markets. The company employs about 6,500 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 http://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 http://www.aktube.com/ .
AK Steel
CONTACT: Media, Alan H. McCoy, Vice President of Government and PublicRelations, +1-513-425-2826, or Investors, Albert E. Ferrara, Jr., VicePresident of Finance & CFO, +1-513-425-2888, both of AK Steel
Web site: http://www.aksteel.com/http://www.aktube.com/
Source: PRNewswire-FirstCall
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