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".