Swiss-based special steel producer and distributor Schmolz+Bickenbach Group has announced that its North America-based subsidiary Finkl Steel will increase its prices by $0.06/lb ($120/st or $132/mt) for all new quotes entered on or after July 9. 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 over the last several quarters the company has been absorbing significant cost increases in raw materials and other aspects of its operations and, as a result, it now must increase prices to support continued investment into its facilities to maintain excellent service to its customers.