AK Steel Holding Corp., a supplier to the U.S. auto industry, said Friday that it will hike spot market prices for its carbon steel products, effective Jan. 1.

Base prices for hot rolled products will increase by $20 per ton and base prices for cold rolled and coated products will increase by $30 per ton over the company's current spot market prices.

The company's shares rose 36 cents, or 2 percent, to close at $18.69.