US Steel implements scrap surcharge

US Steel implements scrap surcharge

US Steel, the integrated steel mill of the United States announced that it implements $30/mt surcharge on all shipments effective from February 1, 2004. This implementation of surcharge derives from the rising raw material and transportation costs, according to the statement by the company authorities. Further to the above referenced surcharge, the mill will also apply a price increase at the below specified rates effective with orders for shipments from April 4, 2004 onwards.

Product          Increase
Hot rolled         $50/nt
Strip mill plate   $50/nt
Cold rolled        $60/nt
Coated             $60/nt

The $30/mt surcharge will remain valid until further notice to be released by the company.