Alcan Ravenswood ups magnesium/manganese prices
NEW YORK, Feb 13 (Reuters) - Alcan Inc. AL.TO said late Tuesday that continued rising costs in alloying materials prompted its Alcan Rolled Products Ravenswood division to boost prices on some magnesium and manganese based products.
In a letter to customers, the facility in Ravenswood, West Virginia, said the price increases became effective and applied to the conversion price on all new orders placed on and after Feb. 12, and on shipments scheduled on and after April 1, regardless of order entry date.
Due to rising costs, Alcan Rolled Products issued a 3-cents-a-lb price increase on all 5052 and 5454 magnesium based products, while 5086 products rose by 4 cents a lb, and 5083 and 5383 magnesium based products increased by 5 cents a lb.
The company also lifted its manganese-based 3003 products by 1 cent a lb.
Alcan Rolled products said it will honor all existing orders and agreements confirmed before Feb. 12. (Reporting by Chris Kelly; Editing by Walter Bagley)
