AK Steel to increase prices for stainless steel products

AK Steel has announced that it is increasing transaction prices for all cold-rolled and hot-rolled stainless steel sheet, strip, tubular-quality, and continuous mill plate products by approximately 3 percent, effective with shipments on March 19, 2006. The increase will be accomplished through a one point reduction in the functional discount rate. According to the company, the price increase is in response to rising demand for stainless products, as well as the need to recover increased costs.