NEW YORK AK Steel Corp.
will increase prices for all 200-, 300- and 400-series
flat-rolled stainless products effective Dec. 30.
The hike will be achieved by
reducing functional discounts on cold-rolled and hot-rolled
products by 4 percentage points and increasing base prices for
automotive exhaust grades by 4 cents per pound, according to
the West Chester, Ohio-based steelmaker.
It is the first attempted price
increase by a domestic mill on the most widely bought
flat-rolled stainless grades, 304 and 316, since late February
amm.com, Feb. 29).
All four major domestic mills
implemented a price increase on some stainless steel grades in
late August and early September (
amm.com, Sept. 4).
Market sources said that the
most recent move would need support from Ghent, Ky.-based North
American Stainless Inc. (NAS)widely considered to be the
domestic market leaderin order to stick.
"It really means nothing unless
NAS follows," a southern distributor source said.
NAS and other large domestic
producersThyssenKrupp Stainless USA LLC, Calvert, Ala.;
and ATI Allegheny Ludlum Corp., a subsidiary of
Pittsburgh-based Allegheny Technologies Inc.hadnt
followed the move Monday.