Thursday, May 15, 2008

More steel price increases!

We reported yesterday that ArcelorMittal had announced a price increase of around 20%. We are now hearing "unofficially" that Corus are set to announce a further price increase on steel strip of between £150 and £205 per tonne for the third quarter.

It seems inevitable that the last large European player will "follow" suit. Expect an announcement soon from ThyssenKrupp, which we believe will be in the region of £150.

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