Stelco-McMaster Ltée announced that it has implemented another scrap surcharge of $40 per net ton on all bar products, above previous price increases or surcharges. This surcharge will be applied on all shipments beginning February 15. The situation will be evaluated on a monthly basis.
Marcel Francoeur, president and CEO of Stelco-McMaster, said, "The magnitude and the frequency of recent scrap cost increases are unprecedented. They are being triggered by world steel demand and the significant volume of scrap being exported from North America. This situation is having a major impact on electric arc steelmakers such as Stelco-McMaster."
Stelco-McMaster Ltée operates a mini-mill in Contrecoeur, Quebec. Stelco-McMaster is also involved in ferrous and non-ferrous scrap metal recuperation and processing through Fers et Métaux Recyclés Ltée of Laprairie, Québec, and Cyclomet of Scoudouc, New Brunswick.
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