Universal Stainless & Alloy Products, Inc. announced a 4 percent price increase, effective with orders placed February 4, 2004 for all grades and products. In addition, beginning February 4, the company will calculate its raw material surcharge using an $0.18 per pound premium over the London Metal price for nickel. All other factors in the calculation will remain unchanged.
Dudley J. Merchant, vice president of Sales and Marketing, commented: "This change is necessary due to significant and unprecedented increases in the cost of iron scrap, energy and other key raw material costs. We will continue to review our pricing policies in relationship to these costs as the year progresses."
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