Carnegie-based Union Electric Steel Corp., a subsidiary of Ampco-Pittsburgh Corp., plans to raise prices on its forged engineered products effective immediately on all new orders received.
It also will apply an alloy and energy surcharge on all orders shipped starting Jan. 1.
Prices will increase approximately 12 percent to 18 percent for all forged engineered product lines worldwide.
“As the overall metal industry has ramped activity, manufacturing and supply chain costs, including labor and transportation, have increased dramatically,” Skip Reinert, sales and marketing vice president, said in a statement. “Additionally, our business continues to be impacted by the increasing costs of key raw materials. This price adjustment is necessary to maintain a reliable supply of superior-quality products to our customers.”
The cost of raw materials, natural gas, electricity, transportation, and other consumables have all increased causes the cost of production to rise.
Ampco-Pittsburgh manufactures highly engineered, high-performance specialty metal products and customized equipment.
Union Electric Steel manufactures forged and cast rolls for the global steel and aluminum industry, and air and liquid processing equipment as well as open-die forged products for the steel distribution market, oil and gas industry, and the aluminum and plastic extrusion industries.
It operates manufacturing facilities in four countries and has sales offices on four continents.