WEST CHESTER, Ohio (AP) -- AK Steel on Thursday said it is immediately increasing prices for its carbon steel products.
The company said it will increase spot market base prices by $40 per ton, effective with all new orders for such products.
The company, which makes steel for automotive, appliance, construction and other industrial markets, said the hike is in response to increased demand and higher costs for materials.
AK Steel shares closed down 54 cents, or 2.2 percent, at $23.56. In after-hours electronic trading, the stock added 12 cents.