AK Steel will be raising spot base prices for all carbon flat-rolled steel products by a minimum of $30/st, effective immediately with new orders, the company said Monday.
AK Steel announced the increase in a statement.
The increase follows a move by ArcelorMittal late last week to increase base pricing to $750/st for hot-rolled coil and $930/st for cold-rolled coil and galvanized substrate. California Steel Industries and USS-Posco also raised spot prices last week on the West Coast.
Prior to the increase, AK Steel last week said its spot market availability was limited as a result of a fire at the company's Middletown Works in southwestern Ohio on January 20. Following the fire, AK sent a delivery lead time update to customers asking them to inquire for current lead times on any new spot orders.
AK Steel on January 22 said it expected operations at the mill to restart in eight to 10 days. A spokeswoman for the company declined to comment further Monday.
