Corus to raise strip product prices in Europe

UK-based steelmaker Corus, the European subsidiary of the Indian steel giant Tata Steel, has announced that it will raise its prices in Europe from March 1 for hot and cold rolled, hot dipped galvanized as well as organic coated strip products.
 
Accordingly, the extent of the increases will vary depending on specification and geographical location, but will range from 10-15 percent for core business, raising basis prices for hot rolled coil to at least €450/mt.
 
Commenting on the price rise, a Corus spokesman said, "We are announcing these increases in view of current market conditions and increased input costs. We are reviewing further increases for April and the rest of the second quarter of this year."