August 28, 2008

WCI Steel announces raw material surcharge

WCI Steel, Inc announced that, because of continued significant increases in basic raw material and energy costs, it is revising its original raw material and energy surcharge on fixed price long term supply agreements from about USD 130 per net ton to USD 250 per net ton. The revised surcharge of USD 250 per net ton will become effective with shipments June 1st 2008 through June 28th 2008.

Mr David A Howard vice president commercial of WCI Steel said that “The surge in raw material costs that began late Q4 of 2007 has continued unabated into May 2008. This continued rise in raw material costs makes it necessary for WCI Steel to revise its raw material and energy surcharge to reflect this changing reality.”

As previously announced, the surcharge is based on the rate of escalation in costs since the fourth quarter of 2007. Any additional increases will be calculated on a month to month basis.