AK Steel Adds Manganese to Its Stainless Surcharge
04/29/2004 -
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AK Steel Adds Manganese
to Its Stainless Surcharge
April 29, 2004 — AK Steel will add a manganese component to its surcharge for its stainless steel sheet, strip and plate products, effective with shipments on May 2, 2004.
AK Steel says the manganese component, which was required because of the unprecedented rise in the cost of ferromanganese, will cover all grades of AK Steel's stainless steel products containing greater than 1.9% manganese, including AK Steel's NITRONIC(R) 30, NITRONIC(R) 19D, 201, 201 LN and 301 LN grades.
The new manganese component will be based on a formula using the percentage of manganese by grade, a $600 per gross ton base rate, and the Platts Metals Week monthly average for U.S. Standard 78% ferromanganese.
AK Steel will republish its May surcharges for stainless steels, including the new manganese component.
Headquartered in Middletown, AK Steel produces flat-rolled carbon, stainless and electrical steel products, as well as carbon and stainless tubular steel products, for automotive, appliance, construction and manufacturing markets. NITRONIC is a registered trademark of AK Steel Corp.
