AK Steel announces stainless sheet price increase

AK Steel said today that it is increasing transaction prices for all hot-rolled and cold-rolled stainless steel sheet and strip products, tubular-quality products, and continuous mill plate products by approximately six percent, effective with shipments on July 2, 2006. The price increases will be accomplished through a two percent reduction in the functional discount rate. The company said that its published stainless product surcharges remain in effect.