Allegheny Ludlum hikes stainless steel plate prices

Allegheny Ludlum hikes stainless steel plate prices

According to reports, ATI Allegheny Ludlum is going to raise prices of all grades of stainless steel plates by almost 5% for shipments as of May 3. Price hike will be implemented in the form of a 3% discount with all surcharges for raw materials remaining in effect. Higher manufacturing costs, together with capital investment and growth are planned to be offset through this increase. By the way, Allegheny Ludlum announced last week that raw material surcharge for silicon electrical steel will increase to $150/t as of tomorrow, due to continuously surging raw material costs. Surcharge will be adjusted in line with changes in raw material costs.