Universal Stainless Changing Surcharge

Company cites soaring scrap metal prices as main reason for the change in pricing structure.

Published February 11, 2004

 

Universal Stainless & Alloy Products, Inc. announced that it is changing its raw material surcharge formula to include an iron surcharge component effective with shipments beginning Monday, February 16, 2004 for all grades and products.

 

The initial iron surcharge of $0.03 per pound is subject to adjustment based on changes in raw material costs. All other factors in the surcharge calculation will remain unchanged.

 

Dudley J. Merchant, vice president of Sales and Marketing, commented: "The price of iron scrap to our company has risen in the last few months to unanticipated levels. This surcharge will allow us to recover these costs in the products we supply."
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