AKS AK Steel Holding Corp

AK Steel Holding Corp. will increase base prices for its carbon flat-rolled steel products by a minimum $30 per ton, the company said Friday.

Shares, up 59% in the past three months through Thursday's close, climbed 9.4% to $3.95 in premarket trading.

The move, effective immediately with new orders, comes amid claims from the steelmaker that its business is being hurt by unfairly priced imports from Brazil, China and India, among other countries.

Shipments fell to 1.66 million tons in the fourth quarter, the company reported in January, which was down from 2.01 million tons in the year-ago period. AK Steel said the decline was due to its decision to focus on sales of higher-margin products and reduce sales to the carbon steel spot market.

Overall sales declined 23% to $1.54 billion in the quarter as the average selling price per ton dropped 5.3% to $929.

The company is expected to report its next set of quarterly results in April.

Write to Joshua Jamerson at joshua.jamerson@wsj.com

(END) Dow Jones Newswires

March 04, 2016 09:35 ET (14:35 GMT)

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