AK Steel adds Titanium Surcharge

AK Steel Corp. announced Monday a new surcharge on all stainless steel raw materials that include titanium, pointing to a nearly five-fold increase in the cost of titanium since early 2004.

The surcharge, effective on shipments on and after May 1, will be applied to all grades of stainless steel sheet, strip and plate products that contain a titanium addition.

The company said the charge will be calculated based on the percentage of titanium used by stainless steel grade, using a base rate of $3.50 per pound along with the average monthly price as published by Ryan’s Notes, a publication that reports and sets prices for the metal industry.

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