More European price increases

It appears that most European steel producers have followed the lead of Corus in announcing price increases.

Although UK based Corus were the first to announce increases demand remains subdued domestically although MEPS report an increase in orders in Germany and an improvement in economic activity in Italy and Poland.

Although the general level of increase in Europe is around 25€ it seems to have translated to £25 in the UK in line with the Corus increase.

Whether or not the higher prices will lead to an increase in imports remains to be seen, as earlier indicators did not seem to support any increase.