Ludlum stainless base price hike said not demand driven

Dec 09, 2009 | 12:17 PM | Maria Guzzo

ATI Allegheny Ludlum is increasing prices of its nickel-based alloys and specialty stainless steels, but market participants see little sign of an equivalent upturn in demand.

Ludlum's base prices for nickel-based alloys will increase by 6 to 8 percent, while those for specialty stainless steels in sheet and plate will rise by 3 to 8 percent, the company said, noting the changes become effective with orders entered on or after Dec. 21.

The company, a subsidiary of Allegheny Technologies Inc. (ATI), Pittsburgh, said the action is necessary to support continued growth and investment in its business. And while sources said that might be true, they added that the hike is certainly not due to demand growth.

"I don't see a whole lot of demand," one Midwest nickel-based alloy purchaser said. "Business is picking up, but I don't see a lot of demand. I just think everyone is trying to get their base prices up."....

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