AK Steel adds stainless-grade titanium surcharge
AK Steel said today that it is adding a titanium component to its stainless steel raw material surcharge, because of a nearly five-fold rise in cost of the steelmaking alloy since the beginning of 2004. The surcharge, effective with shipments on and after May 1, 2005, will be applied to all grades of stainless steel sheet, strip, and plate products that contain a titanium addition.
The company said its surcharge will be calculated based on the percentage of titanium utilized by stainless steel grade, using a base rate of $3.50 per pound in conjunction with the average monthly price as published by Ryan's Notes for US 68 percent–72 percent grade titanium. The monthly average titanium price for March 2005, which will be used to calculate the surcharge for May shipments, is $14.889 per pound. The titanium component will be included in the company's May 2005 stainless steel surcharges, which are to be published later this month.
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