Carpenter Technology Corp announced this week that it will increase base prices by 3-8 percent on new non-contract orders for all of stainless steel products effective September 30.
Universal Stainless & Alloy Products Inc. (USAP) likewise is raising base prices by 5 percent for non-contract orders of all stainless products manufactured at three of its facilities effective October 1. According to the press release, current material and energy surcharges will remain in effect noting that the three facilities affected are in Pennsylvania, New York, and Ohio.
According to VP and Chief Commercial Officer at USAP Chris Zimmer, “This price adjustment is necessary to support our ongoing reinvestment into our facilities to better serve our customers.”
The increases follow those by other North American commodity-grade stainless steel producers that took effect in early September.