Steel Strip

In the US AK Steel said today that it will increase spot market prices for its carbon steel products by $30 per ton for all new orders accepted for shipment on March 1, 2008 and later. AK Steel said that its March order book is now open for hot rolled products. The company also noted that there are limited quantities of cold rolled and galvanized products remaining for March.

AK Steel said that the price increase is in response to increased demand for carbon steel products, as well as the need to recover higher costs for steelmaking inputs.

Pakistan Steel Mills (PSM) has raised its ex-mill prices of various steel products by Rs 500 to Rs 1,500 per tonne, on Wednesday.

We am expecting a wave of price increases in all regions during the coming weeks, as Steelmakers  look to cover increasing raw material, energy and freight costs.

Scrap prices are increasing, a typical precursor to steel increases.