Tuesday, June 08, 2010

Tata Corus price increase

TATA Corus has increased transaction prices for reversing mill plate by GBP 60 per tonne on all new orders from June 4.
It said “The increase is driven by further rises in raw material costs and continued improvements in demand for steel plate.”
M Paul Parkins, Corus Commercial Manager, Plates, said “We’ve seen a sustained recovery in demand for reversing mill plate following the economic downturn, particularly in northern Europe and North America. Stocks in Europe are at low levels and we believe the pressure on supplies will continue to increase. Consequently, mill lead times have extended significantly this year. At the same time steelmakers are facing increased production costs relating to continuing upward movement in raw material costs. The weakness of the euro and sterling against the dollar is adding to these cost pressures.”
Corus raised reversing mill plate prices by GBP 60 from February 7, by GBP 60 from March 22 and by GBP 80 from April 23.

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