Allegheny Technologies Inc. announced that ATI Allvac is revising its pricing policy due to dramatic increases and continued volatility in costs for raw materials, such as nickel, cobalt, molybdenum and alloy scrap. The following actions are being implemented immediately for all nickel, cobalt and specialty steel alloys:
All previous quotations are subject to adjustment/confirmation at time of order acceptance.
All new offers will be quoted with a firm base price, reflecting $4.25/lb. nickel, $10.00/lb. cobalt, and $6.80/lb. molybdenum.
In addition, a monthly raw material index is to be added at time of shipment. This raw material index will be calculated monthly based upon the prior month's average raw material prices.
Allvac is a producer of high performance metals with seven manufacturing facilities in the United States and Europe. Nickel-, iron-, cobalt-, and titanium-base materials are manufactured for the aerospace, marine, oil and gas, chemical processing, biomedical, transportation, and nuclear industries. Product forms are: ingot, forging billet, extrusion billet, round forging bar, round machining bar, rectangular bar, custom rolled shapes, cold drawn bar and rod, rod, bar and rod coil.