WEST CHESTER, Ohio (AP) -- AK Steel Holding Corp. said Friday that it will add a surcharge to electrical steel products shipped in October.
A $185 per ton surcharge will be added to invoices, the company said. The surcharge was calculated based on the August cost of raw materials and energy used to manufacture products.
AK Steel makes flat-rolled carbon, stainless and electrical steels for the auto, appliance, construction, and electrical power generation industries. Earlier this week, the company said it would raise prices for all new steel orders. Hot-rolled products will see a $40 per ton increase, cold-rolled products a $50 per ton increase, and a $60 per ton increase for coated products.
Shares of AK Steel rose 23 cents to $20.13 in morning trading.