Anglo-Dutch steelmaker Corus has announced price increases for reversing mill plate and structural sections, in response to higher costs for raw materials and energy.
The company, which is owned by India's Tata Steel Ltd, said that basis prices for reversing mill plate will rise by 60 pounds a tonne for deliveries from June 1. Prices for structural sections will increase by 80 pounds a tonne from the same date.
The price increases are a direct consequence of high global demand for steel driving dramatic increases in the cost of raw materials, the company said in a statement.
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