On July 3, Ohio-based AK Steel announced to customers its August 2008 surcharge for electrical steel products.
A $905/mt ($998 /mt or $45.25 cwt.) surcharge will be added to invoices for electrical steel products shipped in August 2008, reflecting an increase of $85 /nt ($94 /mt or $4.25 cwt.) compared to the July surcharge for these products.
AK Steel used June 2008 purchase costs to determine the August surcharge, based on reported prices for raw materials and energy used to manufacture the products.