Sep. 20, 2006 — Universal Stainless & Alloy Products, Inc. announced that it is increasing the nickel premium component of its surcharge mechanism from its current $0.30 per pound to $0.38 per pound over the London Metal Exchange price for nickel.

Richard Hack, Vice President of Sales and Marketing, commented, "Strong market demand for nickel-based products has contributed to the rise in nickel premiums charged to us by our suppliers, which we need to pass on to our customers in order to maintain our profitability and continue to reinvest in our operations to serve our customers' needs."

The change in the surcharge will go into effect with shipments beginning October 1, 2006. The company noted that all other factors in the calculation will remain unchanged.

Headquartered in Bridgeville, Pa., Universal Stainless & Alloy Products 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 rerollers, forgers, service centers, original equipment manufacturers and wire redrawers.