AK Steel Announces Stainless Steel Price Increase; 3-Mo Nickel Down

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AK Steel has announced a price increase. The company “said that, in addition to the stainless steel price increase announced by the company on November 22, 2013, the company will also increase base prices for all of its remaining stainless steel products, effective with shipments on January 1, 2014,” according to 4-traders.

“AK Steel said the increase will be achieved through a discount reduction of two percentage points. For all products priced using net prices, including automotive exhaust products, the increase will be achieved by adding $.02 per pound to the existing prices.”

“Surcharges for the broad range of stainless steel products that AK Steel produces will remain in effect, and can be found under the Markets and Products section of the company’s web site at www.aksteel.com.”

In metal price news for stainless steel…

With a decline of 0.5 percent on the LME to $13,990 per metric ton on Thursday, January 2, the 3-month price of nickel recorded the biggest decline of the day. The Indian nickel cash price weakened by 0.5 percent. The spot price of nickel saw a 0.3 percent decline on the LME to $13,965 per metric ton.

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Chinese stainless steel closed mixed yesterday. The price of Chinese ferro-chrome saw little movement. The price of Chinese ferro-moly held steady.

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The price of Chinese primary nickel declined 0.5 percent. The price of Chinese 316 stainless coil continues to  hover for the fifth day in a row. The price of Chinese 304 stainless coil remained essentially flat. The price of Chinese 316 stainless steel scrap was unchanged. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat.