AK Steel (AKS) To Increase Price Of Carbon Steel Products
Zacks Investment Research | Jan 03, 2018 09:17PM ET
AK Steel Holding Corporation (NYSE:AKS) will raise the current spot market base prices for all carbon flat-rolled steel products by a minimum of $40 per ton in the wake of rising raw material costs. The price hike will be effective immediately.
AK Steel witnessed an improving pricing environment in third-quarter 2017. Its average selling price per ton rose 2% year over year to $1,021 in the quarter primarily due to higher surcharges on specialty steel products as well as increased average selling prices on both spot and contract market sales. The company expects recent price increases to lead to improvement in spot market prices in the near term.
Shares of AK Steel have declined 11.8% in the past three months, underperforming theZacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.