AK Steel announces stainless steel price increase

AK Steel said today that it is increasing base prices for all 200, 300, and 400 series flat rolled stainless steel products by 6 percent to 9 percent, depending upon the grade and product form, effective with shipments on May 3, 2009.

The company said this increase will be achieved through a reduction in the functional discount of two percentage points for cold rolled products. The company also will implement a net increase of $.04/lb on hot rolled products, and $.02/lb on automotive exhaust grades.

All surcharges for stainless steel products will remain in effect.