Steel Mills
AK Steel Announces $30 per ton Price Increase
Written by John Packard
November 7, 2013
AK Steel announced a $30 per ton price increase on spot flat rolled steel products earlier today. The full announcement published on the company website is as follows:
West Chester, OH, November 07, 2013—AK Steel (NYSE: AKS) said today that it will increase current spot market base prices for all carbon flat-rolled steel products by $30 per ton, effective immediately with new orders.
AK Steel last announced new spot prices on flat rolled steel on October 1, 2013. At that time the company broke with tradition and referenced specific base prices by product. Based on the latest announcement, AK Steel base price minimums “should” be (assuming full collection of last increase announced):
Hot Rolled = $710 per ton ($35.50/cwt).
Cold Rolled = $820 per ton ($41.00/cwt).
Galvanized = $840 per ton ($42.00/cwt).
All prices referenced are base prices excluding extras, FOB AK Steel mills.
Earlier this week California Steel and USS/Posco announced increases on hot rolled, HRPO and cold rolled at $40 per ton and galvanized at $60 per ton.
John Packard
Read more from John PackardLatest in Steel Mills
USS confirms split CFIUS decision on Nippon deal; it’s now up to Biden
Nippon Steel's purchase of U.S. Steel could lead to lower steel output domestically, and that presents “a national security risk," the Washington Post reported.
USS/Nippon deal: Who will have the happiest holidays?
Will Santa bring gifts for the leadership, employees, and shareholders of U.S. Steel and Nippon Steel, and lumps of coal for USW leadership and politicians opposed to the deal?
‘Orderly liquidation’ of AHMSA assets begins
A trustee has formally taken over AHMSA and begun the liquidation process of the bankrupt Mexican steelmaker.
Nippon buying stake in Canadian iron ore project
Nippon Steel and a Japanese trading company have entered an agreement to buy a 49% interest in a Champion Iron ore project in Canada.
USS anticipates Q4 loss on weak demand, BR2 start-up
Amid a challenging pricing and demand environment, and with the ongoing ramp-up of the Big River 2 mill, USS is anticipating a loss for the fourth quarter.