Universal Stainless Hikes Base Price To Offset Higher Cost Burden

by Shivani Kumaresan, Benzinga Staff Writer

November 18, 2022 10:40 AM | 1 min read | Make a Comment

Universal Stainless & Alloy Products Inc USAP has opted for a base price increase of 7% to 12% on bar products. The increase goes into effect immediately.
The company noted that current material and energy surcharges would remain in effect.
"We are in an environment that has brought sharp inflationary cost increases to nearly all areas of our business, and it is necessary for us to adjust our pricing to keep up with this higher cost burden," said chief commercial officer Chris Zimmer.
Universal Stainless manufactures and markets semi-finished and finished specialty steels, including stainless steel, nickel alloys, tool steel, and other alloyed steels.
Price Action: USAP shares traded lower by 0.74% at $7.54 on the last check Friday.
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