UK-based steelmaker Corus, the European subsidiary of the Indian steel giant Tata Steel, has announced that it will increase transaction prices for structural sections by £80/mt on all deliveries from May 30.
The increase is driven by the continued increases in raw material costs and rising demand for structural sections in the UK and Europe. Corus had raised structural sections prices by £50/mt from March 1 and by another £60/mt from May 2.
Commenting on the price increase, Corus' commercial manager for sections Mick Maloney said, "Demand for structural sections has continued to improve in the UK and Europe - our key market places. This is set against a backdrop of stocks in the supply chain remaining at low levels and increasing raw material costs to steelmakers worldwide."