Ampco-Pittsburgh Corporation (NYSE: AP) announced today that its subsidiary, Union Electric Steel Corporation (“Union Electric Steel”), will raise prices on forged and cast roll products that it and its subsidiaries produce globally. This increase is effective immediately on all orders.
The price adjustments are driven by continued upward pricing pressures on the cost of raw materials, natural gas, electricity, transportation, labor, and other consumables, increasing production costs due to growing product demand, and other global supply chain factors. Consequently, Union Electric Steel will increase its pricing levels on forged and cast rolls products by 8-12%, depending on contractual energy surcharge coverages currently in place.
