Universal Stainless Announces Iron Surcharge
02/12/2004 -
| Return to Steel News Headlines| Print This Page |
Universal Stainless
Announces Iron Surcharge
Feb. 12, 2004 — Universal Stainless & Alloy Products, Inc. is changing its raw material surcharge formula to include an iron surcharge component.
The new iron surcharge takes effect 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.
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."
All other factors in the surcharge calculation will remain unchanged.
Universal Stainless & Alloy Products, Inc., headquartered in Bridgeville, Pa., manufactures and markets a broad line of semi-finished and finished specialty steels, including stainless steel, tool steel and certain other alloyed steels. The company's products are sold to original equipment manufacturers, service centers, forgers, rerollers and wire redrawers.
