Corus Increases Prices for UK Reversing Mill Plate and Structural Sections

07 Feb 2008

Since December 2007, the global market for Reversing Mill Plate (RMP) has continued to exhibit very strong levels of demand, rapidly rising raw material prices and energy costs. The healthy demand for plate is apparent in all key global consuming sectors. As a consequence, Corus will be increasing basis prices for RMP by £60 per tonne effective to all dispatches after 30th March 2008. An addendum to Price List 7 is currently being prepared and will be issued during the next few weeks.

Corus Construction & Industrial will also be raising basis prices for structural sections by £60 per tonne. This change will be reflected in the published price contained in Price List 5 and will apply to all material despatched from 30th March 2008. The price increase is a direct consequence of the considerable increase in raw material costs due to the high global demand for steel. UK demand in 2007 is likely to be confirmed at levels close to the peak experienced in 2004. The market is expected to remain buoyant in 2008. An updated edition of Price List 5 will be issued shortly.

Commercial queries should be directed to Richard White, General Manager Sales & Marketing, Sections and Plates or the usual account management team member.

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 around 28.1 million tonnes with approximately 82,700 employees across the four continents.

For media enquires, please contact:

Annanya Sarin, Corporate Relations, Tel: +44 (0)20 7717 4532