OTHER NEWS

Times Staff and Wire Reports

Steel Prices Going Up: USX-U.S. Steel Group moved to capitalize on strong orders and tight supplies amid signs of a slowing economy, saying it is raising prices on its most widely used products. The nation's biggest steelmaker said it is boosting prices 3.5% for steel used in cars, appliances and other products, and analysts predicted that other domestic steelmakers will follow suit. The price increases are the second round this year. In January, major producers raised prices on most sheet steel $30 a ton, or about 5%. Pittsburgh-based USX said new prices are effective July 2. Bethlehem Steel Corp. confirmed that it has also raised prices, but on fewer products.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World
64°