Swiss-based special steel producer and distributor Schmolz+Bickenbach Group has announced today, December 7, that its North America-based subsidiary Finkl Steel will increase prices by $0.05/lb for all orders to be shipped on or after February 1, 2018, due to a sharp cost increase for melt shop consumables, particularly graphite electrodes and refractories which allow the company to manufacture its quality steel products, over the last several months. This price increase will be effective for all products shipped from all Finkl Steel production facilities.
Art Smoljan, Finkl Steel’s vice president, sales and marketing, stated that the company has been assured of supply of these critical materials, but at a much higher cost; therefore, they are announcing a price increase now to give their customers the time needed to make necessary adjustments in their supply chains.