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US stainless base price hikes struggle to gain acceptance

April 25, 2013 - 16:05 GMT Location: New York

KEYWORDS: US stainless base prices , ATI Allegheny Ludlum , AK Steel , North American Stainless

Base price increases implemented by ATI Allegheny Ludlum on several stainless steel grades are not being accepted by the market, according Richard Harshman, ceo of parent company Allegheny Technologies.

In a conference call with analysts on Wednesday April 24, Harshman, who is also chairman and president of the Pittsburgh-based company, said that the "recently announced base price increase that would have been effective on May 6 has not been accepted in the market". The Brackenridge, Pennsylvania-based company announced price increases on April 9, claiming they were necessary "to support continued growth...

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