AK Steel Hikes Prices for Certain Goods
May 23rd 2013 5:00PM
Updated May 23rd 2013 5:05PM
Customers of AK Steel should prepare to dig more deeply into their wallets. The company announced that it's raising prices on all of its carbon flat-rolled steel products. AK Steel has added a minimum of $50 per ton to the spot market base prices for these goods. The increases are effective immediately.
The company has been contending with weak pricing for some time. Its full-year 2012 and Q1 2013 losses were due largely to this factor.
Last month, AK Steel posted a Q1 loss of $9.9 million ($0.07 per share), which was narrower than Q1 2012's $11.8 million ($0.11). Net sales were down over that time span, however, dropping by 9.2%, to $1.37 billion.
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