NEW YORK ATI Allegheny Ludlum Corp. is raising prices on several of its stainless steel products effective May 6 to "support continued growth and investment."
The subsidiary of Pittsburgh-based Allegheny Technologies Inc. is increasing prices on all 200- and 300-series cold-rolled sheet and strip, cold-rolled tubular-quality sheet and strip and precision-rolled strip products. The increases will be achieved by reducing the functional discount by 2 percentage points, the company said in a letter to customers.
It also is increasing prices on hot-rolled sheet, continuous mill plate and hot-rolled tubular-quality sheet and strip products by 2 cents per pound.
"This action is necessary to support continued growth and investment in our business," the Brackenridge, Pa.-based company said.
Ghent, Ky.-based North American Stainless Inc. (NAS) also recently announced a 5-percent increase on its Type 304L and 316L alloy angles to "support further investment in our business" (amm.com, March 31).