AK Steel said Friday that it will increase its spot market base prices for all carbon flat-rolled steel products immediately.
The base prices for new orders of hot-rolled products will increase by $30 per ton and cold-rolled and all-coated products will increase by $40 per ton.
The company, part of AK Steel Holding Corp., said higher costs and increased demand led to the price increase.
Shares of AK Steel Holding Corp. rose 32 cents to close at $13.87.