Allegheny Technologies Incorporated has announced that ATI Allegheny Ludlum is revising the raw material surcharge formula for all stainless and super stainless steel and tool steel products, with effect from 4 January 2004. This action is being taken to recover producer premiums on nickel and the higher cost of iron contained in scrap. The following changes are being made: (a.). A nickel premium of USD 0.10 per pound is being added to the published LME nickel price used to calculate the monthly raw material surcharge. This premium is intended to reflect the purchase price of nickel used in the production of stainless and super stainless steel products; (b) An iron surcharge is being added.
