Steel Prices set to rise in August

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Universal Stainless Raises & Alloy Products: Universal Stainless & Alloy Products Inc. on Thursday raised prices for all tool steel plate products by 4 % in a move to offset increased costs for electricity and manufacturing supplies. The steelmaker, which sells to forgers and manufacturers, said the price increases are effective for shipments starting July 24. The move follows a price increase announced in early June for the company's premium-melted steels and air-melted steel products. Other steelmakers have recently announced price increases as the cost of raw materials such as iron ore and coal continue to rise. Steel prices fell in 2005 after demand from China slumped. Universal Stainless closed up 36 cents at $27.05 in Wednesday trading on the Nasdaq. This is good for shares of Indian Steel Companies, which are expected to rise any time from now.[From Internet] Best wishes, Suman Mukherjee India. http://sumanspeaks.blogspot.com/ www.bcozindia.com

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