Corus to increase strip prices

Corus to increase strip prices

Sources report that Anglo-Dutch steel producer Corus has decided to increase prices of hot rolled and cold rolled strip prices by £15/mt, and hot dipped galvanized strip by £20/mt in its price list for the first quarter of 2004. The increases effected on all three products include the transporting cost of £2/mt. The company emphasizes the fact that these price increases are an inevitable result of the rising cost of iron ore, coal energy and scrap, indispensable raw materials of steel production, as well as the rise observed in slab prices. Corus effected its previous strip price increase in April 1 2003 in the amout of £10/mt and January 1, 2003 in the amount of £12/mt.