WEST CHESTER, Ohio (AP) -- AK Steel said Tuesday that it will add a $420 per ton surcharge for electrical steel products shipped in May.
The company's electrical steel products include electrical transformers and generators.
The company's surcharges are based on reported prices for raw materials and energy used to make the products. The March purchase cost was used to determine the surcharges for May.
AK Steel produces flat-rolled carbon, stainless and electrical steel, primarily for automotive, appliance, construction and electrical power and generation and distribution markets.
AK Steel shares rose 25 cents to $24.45 in trading Tuesday morning.
