Steel mills trim prices.According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. published reports, both Nucor and Steel Dynamics Inc. are reducing raw material surcharges they have been putting in place as a way to pass high scrap costs on to customers. The cuts were set to take effect in early May. Nucor Corp., Charlotte, N.C., has said that it is cutting its surcharge for flat-rolled products by $30 per ton, beginning with shipments the first of May. Steel Dynamics Inc. (SDI (1) (Serial Digital Interface) A physical interface widely used for transmitting digital video in various formats. For electrical transmission, it uses a high grade of coaxial cable and a single BNC connector with Teflon insulation. ), an electric arc furnace An electric arc furnace (EAF) is a furnace that heats charged material by means of an electric arc. Arc furnaces range in size from small units of approximately one ton capacity (used in foundries for producing cast iron products) up to about 400 ton units used for secondary steelmaker based in Fort Wayne Fort Wayne, city (1990 pop. 173,072), seat of Allen co., NE Ind., where the St. Joseph and St. Marys rivers join to form the Maumee River; inc. 1840. It is the second largest city in the state, a major railroad and shipping point, a wholesale and distribution hub, , Ind., has also announced its intention to cut its surcharges for flat-rolled steel. However, the company said it is looking at raising base prices for the product because of high demand from buyers. SDI has indicated that it is considering a $40-per-ton base price increase on sheet steel products shipped on or after May 17, though that amount was not final as of mid-April. Both companies implemented surcharges earlier this year to offset the soaring price for ferrous ferrous (fĕr`əs), iron in the +2 valence state. Containing or having to do with iron. The difference between ferrous and ferric is the number of valence electrons they contain (ferrous contains two and ferric contains three), which scrap, the predominant raw material for electric are furnace steelmakers. The steelmakers seem to be anticipating that ferrous scrap prices will continue to ease back down. |
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