AK Steel

(AKS) - Get Report

will raise base prices of its precipitation hardening stainless steel products by 10% starting Sept. 19.

The Middletown, Ohio-based company cited rising costs of manufacturing, energy and transportation. AK Steel said raw material surcharges will continue for stainless steel products.

PH grades of stainless steels have very high strength and hardness. They are used in aircraft, aerospace, chemical and petrochemical, and food processing applications.

On Tuesday, AK Steel shares dropped 4 cents to $7.66.