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AK Steel to levy surcharge, effective in December
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WEST CHESTER, Ohio - AK Steel Holding Corp. said Wednesday a surcharge of $185 per ton will be added to invoices for electrical steel products shipped in December.
The surcharges will be applied to a broad range of stainless steel products.
"AK Steel's surcharges are based on reported prices for raw materials and energy used to manufacture the products, with the October 2008 purchase cost used to determine the December 2008 surcharges," the company said in a statement.
The surcharge announcement comes a day after the steel maker lowered its projections for shipments in the fourth quarter by about 14 percent, citing weaker-than-expected U.S. and global economic conditions.
Shares rose a penny to $13.95 in morning trading.
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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