TimkenSteel to Increase Prices on Seamless Mechanical Tubing Products

Rhea-AI Summary

TimkenSteel Corp. (NYSE: TMST) has announced a price increase of $40 per ton on carbon and quench and temper alloy seamless mechanical tubing products. This change will be effective for all shipments starting July 5, 2021. The company continues to maintain all surcharge mechanisms. TimkenSteel, recognized for its high-performance steel products, reported $831 million in sales for 2020 and employs approximately 2,000 people in Canton, Ohio.

Positive

• Implementation of price increase may enhance revenue from seamless mechanical tubing products.
• Strong sales figures of $831 million in 2020 indicate stable demand.

Negative

• None.

CANTON, Ohio, March 4, 2021 /PRNewswire/ -- TimkenSteel Corp. (NYSE: TMST), a leader in customized alloy steel products and services, today announced it will increase prices on carbon and quench and temper alloy seamless mechanical tubing (SMT) products by $40 per ton. These increases are effective for all shipments beginning July 5, 2021. All surcharge mechanisms remain in effect.

About TimkenSteel Corporation
TimkenSteel (NYSE: TMST) manufactures high-performance carbon and alloy steel products in Canton, OH serving demanding applications in automotive, energy and a variety of industrial end markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and precision components. In the business of making high-quality steel primarily from recycled materials for more than 100 years, TimkenSteel's proven expertise contributes to the performance of our customers' products. The company employs approximately 2,000 people and had sales of $831 million in 2020. For more information, please visit us at www.timkensteel.com.

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SOURCE TimkenSteel Corp.

FAQ

What is the price increase announced by TimkenSteel for its seamless mechanical tubing products?

TimkenSteel announced a price increase of $40 per ton for carbon and quench and temper alloy seamless mechanical tubing products.

When will TimkenSteel's price increase take effect?

The price increase will be effective for all shipments starting July 5, 2021.

What were TimkenSteel's sales figures for 2020?

TimkenSteel reported sales of $831 million in 2020.

Where is TimkenSteel located?

TimkenSteel is located in Canton, Ohio.