Corus increases wire rod prices again

The soaring cost of importing coal has forced bosses at the Scunthorpe Corus steelworks to increase the price of wire rod for the second month in succession.
The latest price hike will take effect for deliveries from Scunthorpe from April 28, but at this stage the company is unable to specify the exact level.
Wire rod is a major money-spinner for the Scunthorpe Corus site, where about one-million tonnes a year are produced, around a third of which is used in the manufacture of cars.

Last month Corus responded to unprecedented coal increases by increasing the price of wire rod by £70 to £90 per tonne on deliveries from March 31.
Now the company has warned further coal hikes will push up its own prices even more.

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