U.S. Steel will raise prices on certain products.

The company said it will raise the prices of its hot-rolled bar and semi-finished steel products effective Jan. 1. The nation’s largest steelmaker said the prices will rise $40 per ton above those in effect Oct. 1, but it did not reveal current prices. Bar and semi-finished steel are typically purchased by forgers to make fasteners and vehicle bumpers. U.S. Steel attributed the price increase to the high degree of specialization required to meet customers’ needs but said it will remain competitive with other steelmakers.