Latrobe Specialty Steel announced that it would increase prices by 3% to 10% on high speed and tool steels grades air melt stainless steels, remelted alloys and nickel based superalloys sold through Latrobe’s Distribution and Manufacturing business units.

The price increase will be effective immediately on all new inquiries and with all new orders received beginning May 1st 2011. Raw material surcharges will remain in effect.

Mr Mark T Weberding VP of Marketing & Sales Manufacturing said that "This price increase will enable Latrobe Specialty Steel to recover the increasing operational costs that we are experiencing throughout our entire manufacturing process. Although Latrobe Specialty Steel has a surcharge mechanism to reflect our direct energy consumption, we continue to experience higher costs for operating supplies due to the impact of energy prices on our vendors’ operations. In addition, this increase will allow us to accelerate several planned capital expenditures in order to expand capacity for many of our specialized products to significantly reduce lead-times to our customers."