Sunday, 3 March 2024


Universal Stainless announces 7-12% price hike on premiums By

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© Reuters.

BRIDGEVILLE, Pa. – Universal Stainless & Alloy Products, Inc. (NASDAQ:) has implemented an immediate price increase ranging from 7% to 12% on its premium product offerings, according to a recent announcement. The company, a manufacturer of specialty steels, has confirmed that existing material and energy surcharges will remain unchanged.

Vice President of Sales & Marketing, Brian Kane, stated that the price adjustment is essential to sustain ongoing investments that support the growing demand from specialty steel markets. Universal Stainless & Alloy Products, Inc. caters to a diverse range of industries including aerospace, power generation, oil and gas, and heavy equipment manufacturing.

The company, founded in 1994 and based in Bridgeville, Pennsylvania, specializes in producing a variety of semi-finished and finished specialty steels, such as stainless steel, nickel alloys, tool steel, and other alloyed steels. These products are integral to the operations of several key sectors of the economy.

In the context of this price increase, Universal Stainless has also provided a cautionary note regarding forward-looking statements. These statements are subject to various risks and uncertainties that could cause actual results to differ from predicted outcomes. Factors influencing these risks include market competition, changes in demand and pricing in the aerospace industry—a significant source of the company’s sales—and the ability to innovate and market new products effectively.

Moreover, the company outlined potential challenges in raw material availability and pricing, energy costs, labor relations, compliance with legal and regulatory requirements, and the impact of public health issues like COVID-19 on operations.

The increase in base prices is a strategic move by Universal Stainless to manage its financial health amid these uncertainties and to ensure that it can continue to meet customer needs effectively.

This announcement is based on a press release statement from Universal Stainless & Alloy Products, Inc. Investors and stakeholders in the specialty steel industry will be monitoring the impact of these price adjustments on the company’s financial performance and market position.

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