MIDDLETOWN, Ohio, June 6 /PRNewswire-FirstCall/ -- AK Steel said today that it will increase prices for zinc coatings by 15%, effective with new orders for shipment on July 1, 2006. The premium will be added to AK Steel's current pricing extras for all ZINCGRIP(R), galvannealed and electrogalvanized products. The increase is in addition to AK Steel's previously-announced price increases for zinc coating extras of 70%, effective with shipments April 1, 2006 and 40%, effective with shipments on June 1, 2006.
AK Steel said the increases have been made in order to recover the continually escalating cost of zinc that is used to coat galvanized steel sheet products. The average LME price of zinc has nearly tripled during the past year, from $.56 per pound in May 2005 to $1.40 per pound in April 2006 and $1.61 per pound in May 2006.
AK Steel said it will continue to make adjustments, as necessary, to its prices for zinc coating extras in order to recover the high cost of zinc.
Headquartered in Middletown, Ohio, AK Steel produces flat-rolled carbon, stainless and electrical steel products, as well as carbon and stainless tubular steel products, for automotive, appliance, construction and manufacturing markets.
