Universal Stainless & Alloy Products announced Thursday a four percent base price increase on all tool steel plate products, effective on shipments scheduled on or after July 24, 2006.
“Our raw material and natural gas surcharge mechanisms remain effective," said President and CEO Mac McAninch. "This price increase is necessary to help offset the rising costs of electricity and our manufacturing supply costs, while enabling us to continue our reinvestment in equipment and facilities to better serve the needs of our customers.”
The move follows a price increase announced in early June for the company's premium-melted steels and air-melted steel products. Other steelmakers have also recently announced price increases as the cost of raw materials such as iron ore and coal continue to rise.Universal Stainless, Bridgeville, Pa., manufactures a broad line of semi-finished and finished specialty steels.