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Gold/Mining/Energy : ZINC The base metal. News and Views. Symbol Zn -- Ignore unavailable to you. Want to Upgrade?

To: 3bar who wrote (1005)	2/7/2006 5:54:49 PM
From: Stephen O	Read Replies (1) \| Respond to of 3270

AK Steel Boosts Zinc-Coatings Price as Metal Surges 2006-02-07 14:27 (New York) By Reg Curren Feb. 7 (Bloomberg) -- AK Steel Holding Corp., the third- biggest U.S. steelmaker, said it will boost the price of zinc coatings on galvanized steel sheet by 70 percent to recover the increased cost of the metal, which soared to a record high. The price increase will start with shipments on April 1, Middletown, Ohio-based AK Steel said today in a statement. Zinc surged 78 percent in the past year to a record $2,420 a metric ton yesterday on the London Metal Exchange. The increase covers only products sold in the spot market, AK Steel spokesman Alan McCoy said in a telephone interview. AK Steel previously added charges to flat-rolled-carbon steel and electrical-steep products for shipment this month because of rising prices for raw materials and energy. ``Demand for zinc, based on demand for steel globally is somewhat out of balance, so the price has risen dramatically in the past six months,'' McCoy said. ``We don't see any relief in sight.'' AK Steel sells about 70 percent of its annual 6.4 million tons of total output under long-term contracts, McCoy said. He declined to say what portion of spot sales was represented by zinc products. As contracts expire, the company will seek increases, McCoy said. U.S. steel producers are paying more for natural gas and raw materials. The price of natural gas traded on the New York Mercantile Exchange was 77 percent higher on average during the fourth quarter than in the year-earlier period. Shares of AK Steel fell 33 cents to $11.10 by 2:26 p.m. in New York Stock Exchange composite trading. --Editor: Stroth.