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J&L Specialty Steel Adds Iron Surcharge

Feb. 25, 2004 — J&L Specialty Steel, LLC will add an iron component to its surcharge formula, effective with shipments on February 29, 2004.

Company officials said the unprecedented price levels of iron scrap make inclusion of the iron component necessary. The change will affect all grades of its stainless steel products, including those sold under contracts.

The iron component is based on the Pittsburgh No. 1 Busheling, with a threshold at $140/gross ton.

J&L Specialty Steel is headquartered in Coraopolis, Pa., with plants located in Midland, Pa., and Louisville, Ohio. J&L is a wholly owned subsidiary of Arcelor of Luxembourg, the world's largest producer of steel.

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