Universal Stainless increases base
prices and adds copper surcharge
Bridgeville, PA— Universal Stainless &
Alloy Products, Inc. announced a 6% base price increase on all premium-melted
steels consisting of vacuum-arc remelted and electro-slag remelted
steels and a 5% base price increase on all air-melted stainless
steel products. These price changes will be effective on all shipments
scheduled after July 1, 2006.
In addition, the Company announced it will add
copper to its raw material surcharge formula effective on all shipments
scheduled after July 1, 2006. The base price for the copper element
will be $1.00 per pound and the surcharge will be based on the monthly
average price reported by the Commodity Exchange (COMEX).
President and CEO, Mac McAninch, commented: “While
our raw material and natural gas surcharge mechanisms remain effective,
these price increases are necessary to help offset the rising costs
of electricity and our manufacturing supply costs, and the additional
surcharge is necessary to offset the volatile copper pricing we
are currently experiencing.”
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