WEST CHESTER, Ohio (AP) -- AK Steel Holding Corp. said Tuesday it is raising spot market prices for its carbon steel products by $50 per ton for all new orders, effective Sept. 1.
The U.S.-based steel company said that the price hike stems from increased demand for carbon steel products, as well as the need to recover increases in steelmaking inputs.
According to CapitalIQ, AK Steel counts Esmark Steel Service Group Inc., General Motors Corp., Koppers Holdings Inc. and Reliance Steel & Aluminum Co., among its customers.
Shares fell $1.03, or 2 percent, to $53.08 in morning trading.
