AK Steel expects to raise sheet steel prices by USD 30

AK Steel will raise base prices for carbon sheet products by at least $ 30, which will immediately translate into new orders, the company said.

The increase follows ArcelorMittal's announcement late last week that it intends to increase base pricing to $ 750 for hot rolled coils and $ 930 /t for cold rolled steel coils and galvanized substrate. California Steel Industries and USS-Posco also raised their West Coast spot prices last week.

AK Steel said last week that its local supply of sheet metal was restricted following a fire at Middletown Works at a company in southwestern Ohio on January 20. AK Steel said on January 22 that operations at the plant are expected to resume in eight to ten days.