Corus hikes organic coated steel prices
Corus Colors, a division of Corus Group PLC, announced that it would increase the price of color coated steel products by Euro 50-70 per ton for sales in the European market. The price increase will be effective for deliveries in the second quarter of 2006. 'Since last summer, there is growing evidence that underlying demand is improving for organic coated steel. The momentum seen at the end of last year clearly appears to have continued in to the New Year and we expect this will continue into the second quarter,' a Corus official said. Rising costs was the other factor behind the price increase, the company sources reported.