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Tata Steel Raises Prices of Structurals in U.K.
12/07/2010 - Tata Steel intends to raise transaction prices for structural sections in the U.K. by £50 per tonne effective on all deliveries from January 2, 2011, due to continuing high raw materials costs and the need to set new, sustainable market levels.
Tata Steel intends to raise transaction prices for structural sections in the U.K. by £50 per tonne effective on all deliveries from January 2, 2011.
The company says the increase is necessitated by continuing high raw materials costs and the need to set new, sustainable market levels in 2011.
Mick Maloney, Tata Steel Commercial Manager for Sections, said: "Stock levels in the structural sections supply chain are low at present. We expect demand to improve in the new year, because inventory will have to fill up ahead of the return of the construction season towards the end of Q1 2011."
Tata Steel notes that it has written to its sections customers to inform them of the price increase.
The European operations of Tata Steel (formerly known as Corus) comprise Europe's second largest steel producer. With main steelmaking operations in the U.K. and the Netherlands, the company supplies steel and related services to the construction, automotive, packaging, material handling, and other demanding markets worldwide. It is a subsidiary of Tata Steel, one of the world’s top 10 steel producers. The combined group has an aggregate crude steel capacity of more than 28 million tonnes and approximately 80,000 employees across four continents.
