Weirton Steel To Impose Temporary Raw Materials Surcharge

Weirton Steel Corp., citing "unprecedented" increases in raw material prices, plans to put a $25 per ton surcharge on all steel shipments.

Weirton said the surcharge will begin Dec. 15 and last through Jan. 31. The company said it will contact customers by Jan. 16 if the surcharge will continue through February.

The company said the surcharge is necessary to offset a dramatic rise in costs of both scrap and raw materials.

Weirton, which has been operating under bankruptcy protection since May, said Thursday that it was disappointed in the move to lift tariffs, but said the action won't hurt it as much as it originally expected.

Weirton is the fifth largest steel company in the United States and the second largest producer of tin mill products in the U.S.