Carpenter Technology hikes stainless steel prices

Carpenter Technology hikes stainless steel prices

According to the statement released by Carpenter Technology, the company's Specialty Alloys Operation will increase base prices of stainless steel bars, rods and wire products by 3-10% to be in effect for shipments as of June 1, 2004. Moreover, prices of premium-melted alloys will be increased by 5-10%. The prices are stated to be increase to offset energy, supply and freight rate costs. The company also revealed that it has started including manganese in its raw material surcharge.