AK Steel wastes no time increasing prices again

When AK Steel (AKS) reported earnings for the latest quarter, the company made it clear that it would drive for more pricing power with its customers. True to form, AKS has already announced three separate price hikes in the past in less than three weeks:

February 1
“AK Steel Announces March 2011 Surcharges For Electrical And Stainless Steels”
AKS announces “…a $430 per ton surcharge will be added to invoices for electrical steel products shipped in March 2011.”

February 10
“AK Steel Announces Price Increase For Carbon Steel Products”
AKS announces it “…will increase current spot market base prices for all carbon flat-rolled steel products, effective immediately with new orders. Base prices for carbon flat-rolled products will increase by $50 per ton.”

February 18
“AK Steel Announces Stainless Steel Price Increase”
AKS announces “…it will increase base prices for all 200, 300 and 400 series flat rolled stainless steel products, effective with shipments on February 27, 2011….Base prices of automotive exhaust grades will increase by $.04 per pound. In addition to the base price increases, AK Steel will increase the price for its bright anneal finish extra by $.05 per pound.”

Disclosure: author is long AKS stock

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