, a producer of flat-rolled carbon, stainless and electrical steel products and other steel products, announced that it will raise prices for zinc coatings by 15%, effective with new orders for shipment on July 1.
The company said that it will add a premium for its Zincgrip galvannealed and electrogalvanized products.
The latest price hike follows the company's increases for zinc coating extras of 70%, effective with shipments April 1, and 40% hike, effective with shipments on June 1.
The rise in prices have been made in order to recover the continually escalating cost of zinc that is used to coat galvanized steel sheet products, the Midletown, Ohio-based company said. The company also stated that it will continue to make necessary adjustments to its prices for zinc coating extras in order to recover the high costs of zinc.
The average LME price of zinc has risen from 56 cents a pound in May 2005 to $1.40 a pound in April and $1.61 a pound in May.
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