Corus increases prices for wire rod products

29 Feb 2008

Gareth Beese General Manager, Sales and Marketing, stated: "Recent agreements concluded for iron ore contracts are at prices considerably above analyst forecasts. Coking coal contract prices are expected to be considerably above 2007 levels. In addition, increases in scrap prices, combined with the additional costs of bulk freight and utilities are resulting in unprecedented levels of input cost increases."

Corus recognises that these price increases will need to be passed through supply chains in the wire industry to end users.

Commercial enquiries should be directed to the normal sales contact at Corus’ wire rod business.

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.

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Media enquiries:

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