STEEL SURCHARGES
March 1st, 2004
BY MONICA DOBIECANADIAN steel makers have added a surcharge to the price of their output to compensate for surging costs of scrap and other raw materials. Car and appliance manufacturers and other buyers of steel from Canadian mills must now pay an extra CDN$95 per ton. A scrap shortage due to huge demand from China is the main culprit for the introduction of the surcharge and sky-high prices, which have seen the price of Canadian hot-rolled coil rise to CDN$570 a ton from CDN$430 in three months. According to the Montreal Gazette, steel producers are now facing ...
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