AK Steel hikes flat-roll tags; buyers skeptical
Jan 22, 2013 | 05:17 PM
| Catherine Ngai
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 steelmakers 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).....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.