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Corus to Raise Strip Product Prices in Europe

02/11/2010 - Corus plans to raise its prices in Europe from March 1 for hot and cold rolled, hot dipped galvanized, and organic coated strip products.

Corus plans to raise its prices in Europe from March 1 for hot and cold rolled, hot dipped galvanized, and organic coated strip products.
 
The company says the extent of the increases will vary depending on specification and geography, but will range from 10 to 15% for core business, raising basis prices for hot rolled coil to at least €450/t.
 
“We are announcing these increases in view of current market conditions and increased input costs,” a Corus spokesman said. “We are reviewing further increases for April and the rest of the second quarter of this year.”
 
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 ten 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.