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Talley Metals Increases
Stainless Steel Prices

Jan. 29, 2004 — Talley Metals Technology, Inc., a subsidiary of Carpenter Technology Corp., will increase transaction prices 3% on all grades of its stainless steel round bar, hexagons and squares. The increases take effect for new orders placed Feb. 2 and for all shipments from March 1.

Talley is also changing its surcharge mechanism on stainless steel products to incorporate an $.18/lb. premium over the LME price for nickel.

Changes reflect significantly higher costs for many essential raw materials, energy and other supply costs, as well as rising nickel premiums. It also is intended to recover some of the price deterioration that has occurred.

Talley Metals sells 300- and 400-series stainless steels, as well as standard precipitation-hardening grades, to U.S. metals distributors.

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