Universal Stainless Announces Manganese Surcharge
05/14/2004 -
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Universal Stainless Announces Manganese Surcharge
May 14, 2004 — Universal Stainless & Alloy Products, Inc. is changing its raw material surcharge formula to include a manganese component effective with shipments June 1, 2004.
The company has established a trigger price of $600 per gross ton against which the surcharge will be calculated, based on the U.S. Standard 78% ferromanganese published in Ryan's Notes. The manganese content in each grade of product produced will govern the surcharge formula calculation. In April, the average price for 78% ferromanganese was $1,699 per gross ton.
Dudley J. Merchant, Vice President of Sales and Marketing, commented: "The price of 78% ferromanganese has escalated rapidly. This surcharge will enable us to recover these costs in the products we supply."
Headquartered in Bridgeville, Pa., Universal Stainless & Alloy Products, Inc. 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.
