AK Steel implements surcharge and hikes prices

AK Steel implements surcharge and hikes prices

Recent news in the market report that, AK Steel has increased prices of its products and implemented surcharge on the shipments due to rise in raw material costs. In line with the new figures, surcharge on electrical steel sheet and strip products will be $30 per ton to be effective as of February 1, 2004 shipments. Moreover, the company had previously implemented a surcharge of $40 per ton on its carbon steel products effective as of January 2004 shipments. The surcharges will be adjusted on monthly basis, depending on raw material costs. The company also increased the transaction price of new orders for hot rolled, cold rolled and coated steel products. Accordingly, prices of hot rolled products will be increased by $50 per ton and prices of cold rolled and coated steel will be increased by $60 per ton.