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AK Steel Raises Prices

The company will cut its discount rate.
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AK Steel (AKS) - Get Free Report will raise transaction prices for all hot-rolled stainless steel sheet, strip, tubular-quality and continuous mill plate products by approximately 6%, effective with shipments on Feb. 19.

The increase will be accomplished through a 2-point reduction in the functional discount rate.

The Middletown, Ohio, steel company cited significant increases in manufacturing, energy and transportation costs, and the need to support capital investments.

AK Steel fell 25 cents Wednesday to $10.80.