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Talley Metals Increases Stainless Bar Prices.

Publication: Business Wire
Date: Thursday, July 22 2004

HARTSVILLE, S.C. -- Talley Metals, a subsidiary of Carpenter Technology Corporation (NYSE:CRS), announced today that it is increasing prices for all grades of stainless steel round bars, hexagons and squares by 3 to 7 percent, effective with new orders and shipments as of August 2.

Talley

Metals said that it continues to experience increasing costs for supplies, energy and other administrative costs and that there is a need to recoup margins that have deteriorated over the last several years due to the decline in market pricing.

Additionally, Talley will adjust its surcharge calculation by increasing the premium over the LME price for nickel by $.05/lb. to $.23/lb., effective August 2nd.

Talley Metals sells 300 and 400-series stainless steel bars, as well as standard precipitation-hardening grades, to U.S. metals distributors. Carpenter Technology, based in Wyomissing, Pa., is a leading manufacturer and distributor of specialty alloys and various engineered products. More information about Carpenter is available at www.cartech.com, with selected products for sale at www.carpenterdirect.com.

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Subject: Steel industry
Company: Carpenter Technology Corp.
Product: Blast furnaces and steel mills
Location: United States

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