Steel stocks are up again a day after AK Steel's surprising move to raise prices on flat-rolled...

|About: AK Steel Holding Corp (AKS)|By:, SA News Editor

Steel stocks are up again a day after AK Steel's surprising move to raise prices on flat-rolled steel products just 10 days after an earlier increase: AKS +3.2%, X +1.2%, NUE +1.1%. But Axiom analyst Gordon Johnson senses an act of desperation, and notes AKS shares have dropped ~8% on average when it has announced two or more price hikes in the same month.