AK Steel hikes flat-roll tags; buyers skeptical
Jan 22, 2013 | 05:17 PM
| Catherine Ngai
Tags
AK Steel,
price hike,
flat-rolled,
steel prices,
steel buyer,
service center
NEW YORK — AK Steel Corp. has announced plans to raise base prices for all carbon flat-rolled steel products by $40 per ton ($2 per hundredweight), the first domestic steelmaker to hike published prices in the new year but leaving some buyers skeptical as to whether the attempted increase would hold.
The West Chester, Ohio-based steelmaker’s increase, announced Jan. 21 and effective immediately (amm.com, Jan. 22), followed weeks of speculation that a sheet increase was in the works.
AK Steel did not give a reason for the move in announcing the hike, but market participants speculated that it was looking to stymie a recent softening in domestic sheet prices amid sluggish demand from many end-use sectors (amm.com, Jan. 16).....
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