Corus to implement price hike
According to recent news in the market, Anglo-Dutch steelmaker Corus has recently announced that it will hike its prices between 5 to 8% to be in effect as of March 2004.
An official from Corus expressed that the decision of hiking prices is in line with recent price increases effected by major European producers, such as Arcelor and ThyssenKrupp, adding that the decision is taken as a result of weak demand in
Europe and strong demand in
North America and Asia.
The analysts attribute price increases effected by European producers to the strong demand particularly in
China, which will result in an increase of €40per ton, representing a 10% increase to be in effect by mid-2004.