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Gold/Mining/Energy : STE-TSE STELCO BALANCE SHEET IMPROVING
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To: Scott Mc who wrote (30)2/12/1998 11:29:00 AM
From: phoenix_investor  Read Replies (1) of 46
 
Stelco raises prices, 1st Q outlook even more positive.

Stelco Inc -

Post says steelmaker confirms price rise

Stelco Inc
STE.A
Shares issued 107299492
1998-02-11 close $12.1
Thursday Feb 12 1998
The Financial Post reports in its Thursday, February 12, edition that Stelco says it intends to raise
prices for hot-rolled, cold-rolled and galvanized steel. A Dow Jones Service dispatch to the Post
reports that last month, five US steel makers announced plans to increase prices by 2 per cent to 3 per
cent on hot-rolled steel, cold-rolled steel, effective April 1. The hikes were prompted by the low
inventories of some customers and the relative strength of the US auto and housing markets. The US
manufacturers plan to raise the price of hot-rolled steel by US$10 a ton. The cold-rolled steel price is
expected to increase by US$15 a ton, while the coated steel price will rise by US$20 ton. Stelco
confirmed it will raise prices for similar products, effective March 1. The increases will be slightly
higher than those of the US firms, to compensate for a drop in the Canadian dollar's value against the
US dollar since last fall. As a result, Stelco's prices will be in line with those of US producers.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

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