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AK Steel raises spot market base price by $30

WEST CHESTER, Ohio (AP) -- AK Steel Holding Corp. said Friday it will increase its spot market base prices for carbon flat-rolled steel products by $30 per ton.

The increase will go into effect immediately with new orders, the company said.

AK Steel, which is based in West Chester, Ohio, produces flat-rolled carbon, stainless and electrical steel products for a range of industries, including automotive, construction and infrastructure, manufacturing and electricity.

Shares of AK Steel fell 2 cents to end at $4.08 on Friday. The stock has shed over half its value since the beginning of the year.

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