Carpenter to Raise Stainless and Premium Specialty Steel Prices
05/28/2004 -
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Carpenter to Raise
Stainless
and Premium Specialty Steel Prices
May 28, 2004 — Carpenter Technology Corp.’s Specialty Alloys Operations unit will increase base prices by 3 to 10% on stainless steel bar, rod and wire products, effective with June 1 shipments. Carpenter also will increase base prices by 5 to 10% on its premium-melted alloys.
The company has begun including manganese in its raw material surcharge mechanism for specialty alloy products. Carpenter intends for the price increases to partially offset the price erosion that has occurred over the last few years and to offset higher energy, supply and freight costs.
Based in Wyomissing, Pa., Carpenter is a leading manufacturer and distributor of specialty alloys and various engineered products. Carpenter had sales of $871.1 million in fiscal 2003, which ended June 30, 2003.
