Stelco subsidiary brings raw material surcharge

Stelco subsidiary brings raw material surcharge

As a result of the increasing demand and the unprecedented rise of scrap costs, Stelco McMaster Ltée., the Quebec subsidiary of Canadian major steel producer Stelco Inc. announced implementation of another surcharge for coverage. The subject surcharge is in the amount of $40/nt on all bar products and will be applied in addition to all the price increases and surcharges implemented back in December. This latest increase will take effect from February 15, 2004 and will be evaluated on a monthly basis. Stelco McMaster Ltée produces billets, special quality bars, reinforcing bars and merchant bars of around 600'000 tons, for shipment to North American and offshore markets. More than 60% of the company production is exported. Stelco-McMaster owns 50 percent of Fers et Métaux Recyclés Ltée, a processor of ferrous and non-ferrous scrap.