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PrintAllegheny Technologies Inc., Pittsburgh, announced late Thursday its ATI Allegheny Ludlum subsidiary is increasing base prices of cold-rolled and hot-rolled stainless sheet and strip products, including tubular quality sheet and strip, continuous mill plate products and emission-control products, by about 6 percent effective with shipments starting May 31.
The company said the increases are being implemented to support continued growth and investment in its business.
The move was expected after market chatter indicated that ATI was gearing up for a June price hike, industry sources have said (AMM, April 16). ATI chairman, president and chief executive officer L. Patrick Hassey all but confirmed that a price increase was in the offing in comments he made during the company's first-quarter conference call with analysts earlier this week (April 29).
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