ThyssenKrupp Nirosta changes surcharge formula

ThyssenKrupp Nirosta changes surcharge formula

German flat stainless and heat resistant steel producer ThyssenKrupp Nirosta GmbH declared that as of May, 1 2004 they are going to change alloy surcharge calculation by adding scrap component. This change is decided in order to compensate the substantial increase in costs due to unprecedentedly improved scrap prices. It is also reported that rates of alloy surcharge, which will be announced next week, will depend on scrap grades.