On January 21, Ohio, US-based Timken Company (Timken), a global manufacturer of bearings, alloy steel, and power transmission components, announced that it will increase base prices on all special bar quality products by $40/mt.
Timken said that the new price increases will be effective with shipments beginning on April 1, 2011 and apply only to non-contract pricing, adding that the raw material surcharges remain in effect.