J&L Specialty Steel, LLC announced that it will add an iron component to its surcharge formula, effective with shipments on February 29, 2004. This change will affect all grades of its stainless steel products, including those sold under contracts.
The iron component is based on the Pittsburgh No. 1 Busheling, with a threshold at $140/gross ton. The surcharge schedule posted on J&L's Web site, www.jlspecialty.com, has been updated to reflect the changes. Prices are based upon the date promised on J&L's order confirmation.
Company officials said the unprecedented price levels of iron scrap make the inclusion of this iron component necessary.
J&L Specialty Steel is headquartered in Coraopolis, Pa., with plants in Midland, Pa., and Louisville, Ohio.Latest from Recycling Today
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