Corus Strip Products UK to raise strip product prices from 1 April 2008
12 Feb 2008
In a rapidly strengthening market for steel, Corus Strip Products UK will increase the prices of its flat-rolled products from 1 April by £80-£106 per tonne, depending upon specification.
Inventories are low and global demand for steel is strong. Adam Smith, Commercial Director for Corus Strip Products UK, said, "The de-stocking we have seen in the last six months is over and prices are strengthening in America and Europe backed by solid demand."
The market situation is such that the cost of raw materials continues to increase. Smith concludes: "As steel makers negotiate prices and availability with raw material suppliers, further price increases cannot be ruled out".
ENDS
Annanya Sarin, Corporate Relations, Tel: +44 (0)207 717 4532
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 steel producer. With the recent acquisition of Corus, the combined enterprise has an aggregate crude steel production capacity of over 28 million tonnes with approximately 82,700 employees across the four continents.
