WEST CHESTER, Ohio (AP) -- AK Steel Holding Corp. said Monday it will add a surcharge of $100 per ton for electrical steel products shipped in April because of higher costs for raw materials and energy.
The company said the April surcharge was based on February costs.
AK Steel makes flat-rolled carbon, stainless and electrical steels for use in autos, appliances, construction and the electrical industry.
Shares of AK Steel Holding Corp. fell 75 cents, or 12.1 percent, to $5.43 in midday trading. The stock has ranged from $5.20 to $73.07 in the past year.
Shares of steel makers have slid in recent months as the recession cools demand for their products. Last week, a UBS analyst warned that steel prices were falling and inventories were building.