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Carpenter Technology Raises Prices on Stainless Steels, and Specialty Alloy Coil Products
WYOMISSING, Pa., Sep 29, 2004 (BUSINESS WIRE) -- The Specialty Alloys Operations unit of Carpenter Technology Corporation (NYSE:CRS) announced today that it is increasing prices for all grades of stainless steel, high temperature and specialty alloy coil products effective with new orders and shipments as of October 1st.
Strip, sheet and flat rolled base prices will increase 8-12 percent for all electronic alloys, including soft magnetic, and high temperature superalloys; and 6-8 percent on all stainless and alloy steels. Carpenter also said that quantity extras would be adjusted on all forms of strip products.
Furthermore, wire and rod base prices will increase 5-7 percent for all stainless steel and high temperature alloys. Carpenter said that it is also increasing the prices of special wire coatings and premium melting a minimum of 20 percent. Additionally, Carpenter said that it will begin including quantity extra charges for all rod products effective with any order less than 40,000 lbs. Quantity extra charges for wire products will remain in effect.
Carpenter Specialty Wire Products, a business unit of Carpenter Technology Corporation, is also increasing base prices on all wire and ribbon products 8-12 percent effective with new orders and shipments as of October 1st. Carpenter Specialty Wire Products manufactures high quality small diameter wire and ribbon products in specialty alloys.
Carpenter said that the price increases and other adjustments on coil products are intended to partially offset the price erosion that has occurred over the last few years and to respond to higher demand for its products. Lastly, Carpenter said all applicable raw material surcharges would remain in effect.
Carpenter Technology Corporation, based in Wyomissing, Pa., is a leading manufacturer and distributor of specialty alloys and various engineered products. More information about Carpenter is available at www.cartech.com.
SOURCE: Carpenter Technology Corporation
Carpenter Technology Corporation, Wyomissing Lisa MacGregor, 610-208-3479 Lmacgregor@cartech.com
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