WEST CHESTER, Ohio (AP) -- AK Steel Holding Corp. said Thursday it is imposing a $70 per ton customer surcharge for electrical steel products shipped next month.
The July surcharges are based on reported prices for raw materials and energy used to manufacture the products. The May purchase cost was used to determine the July surcharges, the company said in a statement.
AK Steel produces flat-rolled carbon, stainless and electrical steels, primarily for automotive, appliance, construction and electrical power generation and distribution markets.
The company also announced surcharges for a broad range of stainless-steel products shipped in July.
That metal is used in numerous products, such as appliances and industrial equipment.
AK Steel's shares rose $1.10, or 7.4 percent, to $16.08. Shares have traded between $5.20 and $72.99 in the past 52 weeks.