Hamilton, Ohio - April 16th, 2009-- On April the 15th Allegheny Ludlum announced an increase of 6%-9% on all cold and hot rolled flat products. While the increase is not effective until May 4th, the announcement validates the talk of a price increase that has been prevalent in the market for the past several weeks. It is anticipated that all of the major domestic mills will follow Allegheny's lead and announce similar increases.
Since April the 2nd nickel, one of the major elements in the production of stainless, has also charted a steady increase on the London Metals Exchange where it is traded. Since mid Feruary the price of nickel has posted a gain of nearly 27%. Experts state that nickel is following the lead of copper and lead which have posted similar gains.
"While it is difficult to determine whether the announced price increase is indicative of a sustained trend, we encourage our customers to increase their level of awareness regarding supply, demand and raw material surcharges. Informed, well-timed purchase decisions will continue to impact profitability and ultimately the bottom line. As we work together to navigate today's challenging economic conditions, I encourage our customers to take advantage of our knowledgable sales staff and online resources as an element of their purchasing strategy," commented United Performance Metals' President, Tom Kennard.
United Performance Metals can be contacted at 1.888.282.3292 or visited online at www.upmet.com.