WEST CHESTER, Ohio (AP) -- AK Steel said Thursday it will hike the current spot market base prices for all carbon flat-rolled steel products by $40 per ton for the second time in a month.
The West Chester, Ohio, company said the increase would take effect immediately with new orders. It also announced a price hike on Nov. 30. It cited higher demand and the need to recover higher costs it faces for the materials it uses, which were the same reasons used last month.
The company makes metal products mainly for vehicle automotive, appliance, construction and electricity companies.
Shares of AK Steel climbed 17 cents to $14.30 in Thursday afternoon trading.