Corus Strip Products announces price increases in the UK

17 Jun 2008

Corus Strip Products will increase the basis prices of its flat-rolled products in the UK by at least £150 per tonne for Hot Rolled, at least £175 per tonne for Cold Reduced and at least £200/t for Hot Dipped Galvanised and Aluminised, for all orders acknowledged for delivery from 30th June. The increases follow on from Corus Strip Products prices announcements for mainland Europe in May.

A new price extras list is effective from the same date. Recognising the significant increase in fuel costs, distribution prices will increase by 6%.

At the same time, as the direct consequence of a series of unprecedented increases in raw material costs, Corus Strip Products is discussing with its customers the consequences of the extreme cost increases in relation to current annual contracts.

Manzer Hussain, Group Communications Tel: +44 (0) 20 7717 4461

Corus Strip Products, UK has sites across Wales, including Port Talbot, Llanwern in Newport, Trostre near Llanelli, Pontardulais, Caerphilly, Caldicot, near Newport, and Shotton on Deeside and is a part of Corus' Strip Product Division, which produces nearly 12 million tonnes of high quality hot rolled, cold rolled and coated strip products at its main steelmaking sites at IJmuiden in the Netherlands and at Wales in the UK.

Corus is Europe's second largest steel producer with annual revenues of over £11 billion and a crude steel production of about 20 million tonnes. With main steelmaking operations primarily in the UK and the Netherlands, Corus provides innovative solutions to the construction, automotive, packaging, mechanical engineering and other markets worldwide. Corus is a subsidiary of Tata Steel, the world's sixth largest and second most global steel producer. With a combined presence in nearly 50 countries, Tata Steel including Corus has over 82,000 employees across five continents.