Indian steel giant Tata Steel's Europe operations have raised transaction prices for reversing mill plate by £90/mt effective on all orders placed from February 1, 2011, with an announcement made on the same day.
In another statement made on January 28, the company also said that it will raise transaction prices for structural sections in the UK by £95/mt effective on all deliveries from Sunday, March 6, 2011.
The increase is the result of higher than anticipated international steel demand in 2010 and expected continuing demand growth this year, the company said, adding that the recent extreme weather conditions in Australia and Brazil have led to higher spot prices for key inputs such as iron ore and coking coal.