(RTTNews) – Shares of GrafTech International Ltd. (EAF) are moving up about 14 percent on Thursday morning trading, after the company announced an increase in graphite electrode prices by a minimum of $600 to $1,200 per metric ton, depending on region, effective immediately on uncommitted volume.
The company’s shares are currently trading at $7.14 on the New York Stock Exchange, up 14.47 percent. The stock opened at $6.11 and has climbed as high as $8.00 so far in today’s session. Over the past year, it has traded in a range of $4.92 to $20.32.
The increase is prices comes as the current geopolitical developments are driving increases in the company’s key input costs, including oil-based raw materials, energy and logistics.
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