USS extends scrap payment terms in 2014

Dec 31, 2013 | 01:39 PM | Lisa Gordon

Tags  scrap suppliers, U.S. Steel, Carnegie Project, Mario Longhi, payment terms, Lisa Gordon

PITTSBURGH — U.S. Steel Corp. is revising its payment terms on purchases in 2014, several scrap suppliers told AMM.

The Pittsburgh-based steel producer advised its customers that effective Jan. 1, 2014, payments will expand to net 45 days from net 30 days. The steelmaker is also offering a 20-day "quick pay" option that suppliers can take if they agree to give the company a 2-percent discount.

The company didn’t respond to a request for comment.....

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