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Corus to Again Raise Prices for Structural Sections

05/05/2010 - Corus will increase transaction prices for structural sections by £80 per tonne on all deliveries from May 30. The company raised structural-sections prices by £50 from March 1 and by another £60 from May 2.

Corus says it will increase transaction prices for structural sections by £80 per tonne on all deliveries from May 30.
 
The increase is due to continued increases in raw material costs and rising demand for structural sections in the U.K. and Europe. Corus raised structural-sections prices by £50 from March 1 and by another £60 from May 2.
 
“Demand for structural sections has continued to improve in the U.K. and Europe—our key market places,” said Mick Maloney, Corus Commercial Manager for Sections. “This is set against a backdrop of stocks in the supply chain remaining at low levels and increasing raw material costs to steelmakers worldwide.”
 
Corus says it has written to its sections customers to inform them of the price increase.

Corus is Europe’s second largest steel producer. With main steelmaking operations primarily in the U.K. and the Netherlands, Corus supplies steel and related services to the construction, automotive, packaging, mechanical engineering, and other markets worldwide. Corus is a subsidiary of Tata Steel, one of the world’s top 10 steel producers. The combined enterprise has an aggregate crude steel capacity of more than 28 million tonnes and approximately 80,000 employees across four continents.