Steel producer Corus, part of industrial giant Tata, said it is raising base prices for quarterly strip steel contracts in continental Europe.
Corus Strip Products will increase prices by a minimum of 130 euros per tonne from July 1, Corus said in a statement.
The group blamed tight market conditions and 'extreme cost increases for raw materials'.
'At the same time, Corus Strip will enter into discussions with its customers to discuss the consequences of the extreme cost increases in relation to current annual contracts,' the statement said.
I understand in the UK, that the price increases are between £130 for hot rolled up to in excess of £200 for Galvanized.