December 02, 2008

US Steel to raise prices for September

US Steel has announced plans to raise prices by USD 40 per short ton on all products for September shipments. The company is also planning a production cut of about 250,000 tons in the fourth quarter; the third blast furnace is to be overhauled.

The main factors causing the company to raise prices include: production cut by major domestic mills, electric furnace price pumped up by higher scrap costs, and a shortage in imports.

(Sourced from YIEH.com)