Price hikes from Ispat Europe for 2004

Price hikes from Ispat Europe for 2004

Ispat Europe Group S.A., which has eight mills throughout Europe, announced that they are planning to hike prices of bars, rods and billets both for long term and quarterly contracts by €25-30/mt and €10/mt respectively. The price increases will be valid from January 1, 2004. It is also stated that these increases aim to offset the continuous rise in input costs partially, scrap prices of which is expected to maintain its current historic high level in 2004. On the other hand, Ispat North America Inc. increased its wire rod price at Ispat Sidbec, located in Canada, by $19 per net ton and at Caribbean Ispat, located in Trinidad and Tobago, by $25 per net ton. These hikes are valid from December 1 for shipments from Ispat Sidbec, however effective for all new orders at Caribbean Ispat placed on November 5 and onwards. Depending on market conditions prices will be adjusted.