Allegheny Ludlum increases stainless steel prices

Allegheny Ludlum increases stainless steel prices

According to a press statement released by ATI Allegheny Ludlum, beginning with shipments on August 23, 2004, the company is increasing prices for certain cold-rolled stainless steel sheet, strip and tubular quality sheet and strip products. More specifically, ATI Alleghen Ludlum plans to increase the price of polished stainless steel sheet by 4% and the price of 2 different grades of duplex stainless steel by 3%. In addition, the company is also increasing extra charges for guage, width, quality and slitting options on many other products including stainless sheet, strip and tubular quality sheet by 4-8%. The increases are reportedly necessary to offset the rising manufacturing costs. The press statement also added that all raw material surcharges will remain in effect.