Friday, August 25, 2006

Corus announce price increase on flat products

Following on from their recent announcement of price increases on structural steels, Corus Group said today that it will increase its fourth quarter flat-rolled steel prices in Europe by 5 to 7 percent.With higher energy costs and strong demand for steel, Corus said that prices for hot-rolled, cold-rolled, galvanised and organic coated steel in mainland Europe would be raised.

For products such as organic coated steel, Corus said that the cost hikes will result in order price increases of 40 euros to 50 euros ($51-$64).

“We continue to see strong demand and stock-levels remain at normal levels. With the current strong underlying demand in Europe, particularly in construction and end-user sectors, and a healthier global outlook, this price increase is supported by market conditions,” Corus said in a statement.

No comments: