US CREDIT - Steel prices hit Maytag, Whirlpool

Newswire

NEW YORK, Sept 24 (Reuters) - Rising steel prices are battering Maytag Corp. and Whirlpool Corp. , and the pain may increase, traders said. Both companies' shares and credit were hit after Sweden's Electrolux , the maker of Frigidaire refrigerators, said on Thursday that soaring steel prices would cut into second half profits to the tune of $68 million. Prices for the type of steel used by appliance makers have risen by more than 150 percent over the last year, according to American ...

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