Allegheny Ludlum hikes stainless steel product prices
A unit of Allegheny Technologies Incorporated (ATI), Pittsburgh based ATI Allegheny Ludlum announced that they have hiked prices of most of its
stainless steel products, including
stainless steel sheet, strip and plates, by around 6%. It is stated that this decision is taken due to sharp rise seen in costs such as raw materials, energy and transportation.
The price increase will become effective for shipments from January 26, 2004 onwards.
Besides, the surcharges for raw materials, being valid since January 4, will be in place. According to the announcement made in December 2003, a surcharge of $221/mt is applied on nickel used in
production of
stainless steel. The surcharge applied on iron is $120/gross ton.