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Carpenter Sets Price Hikes for High-Temperature Alloy Products

Jan. 21, 2004 — Carpenter Technology Corp.’s Specialty Alloys Operations (SAO) unit is taking pricing actions on its nickel- and cobalt-base high-temperature alloys, effective immediately. The changes include increased transactional prices for all new orders and a different surcharge calculation for high temperature alloys than what is used for other stainless steels and specialty alloys.

Raw material surcharges and price quotations made will be based on nickel at $4/pound, cobalt at $10/pound, chrome at $4.15/pound and molybdenum at $6/pound. Carpenter will adjust all prices quoted at the time of order to reflect current raw material prices. In addition, the surcharge calculation and price adjustment for high-temperature alloys will now include an $.18/pound premium over the LME price for nickel to recover additional costs incurred.

Carpenter is making the pricing adjustments in response to continued escalation and significant volatility in raw materials and energy costs. With the increases, Carpenter is attempting to recover a portion of the cost increases, as well as recover price deterioration that has occurred on these products in the past few years. Carpenter SAO said it would continue to monitor raw material prices and other inputs, making additional adjustments as necessary.

Carpenter, based in Wyomissing, Pa., is a leading manufacturer and distributor of specialty alloys and various engineered products. Carpenter had sales of $871.1 million in fiscal 2003 (ended June 30, 2003).

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