The UK-based steel producer Corus has announced an increase of £70-90/mt for its wire rod products effective for domestic deliveries starting from March 31, 2008.
The main reason for the decision was cited as unprecedented levels of input cost increases due to the higher than expected rises in iron ore and coke prices.
Corus said it recognizes that these price increases will need to be passed down supply chains in the wire industry to end-users.