More steelmakers raised prices on flat-rolled steel.

A widely expected round of price increases, signaled last week when U.S. Steel pushed prices up 10%, began to take shape as three competitors followed suit. LTV, Inland Steel and Bethlehem Steel said they would initiate identical increases, effective Jan. 1. Other steelmakers, including Armco Inc., said they were considering price hikes. The formula in each instance is a complicated one: In fact, official prices are cut by $60 a ton, but discounts on sheet steel are curtailed, first by $60 a ton and then by 40% of any discounts remaining. The overall effect is a 10% increase. Flat-rolled steel is the type used in automobiles and one of the few steel products where demand has been relatively strong.