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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (5037)	1/14/2004 12:19:03 PM
From: ldo79	Read Replies (1) of 110194

A little steel pricing impact: Stelco-McMaster announces scrap surcharge Wednesday January 14, 12:09 pm ET CONTRECOEUR, QC, Jan. 14 /CNW/ - Stelco-McMaster Ltée announced today it has implemented another scrap surcharge of $40 per net ton on all bar products, above previous price increases or surcharges. This surcharge will be applied on all shipments beginning February 15, 2004. The situation will be evaluated on a monthly basis. Marcel Francoeur, President and Chief Executive Officer of Stelco-McMaster, said, "The magnitude and the frequency of recent scrap cost increases are unprecedented. They are being triggered by world steel demand and the significant volume of scrap being exported from North America. This situation is having a major impact on electric arc steelmakers such as Stelco-McMaster." biz.yahoo.com Regards, ldo79

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