Benzinga | Jul 19, 2021 07:04AM EDT

Universal Stainless Announces Base Price Increase of 3% To 10% On Long Products

Universal Stainless & Alloy Products, Inc. (NASDAQ:USAP) today announced a base price increase of 3% to 10% on all long products. The increase goes into effect immediately for all new orders. Current material and energy surcharges will remain in effect.

Chris Zimmer, Executive Vice President and Chief Commercial Officer, commented, "We are committed to providing our customers high quality steel with industry leading delivery performance and lead times. Given the current inflationary environment, this price adjustment is necessary to support our operations and ongoing reinvestments into our facilities to better serve our customers."