Corus hikes prices for flats

Anglo-Dutch steelmaker Corus Group Plc has announced that it will increase prices for its hot rolled, cold rolled, and coated steel products by 5-7 percent, effective for shipments as of the second quarter of 2007. “We are seeing an improved demand and stocks are at normal levels. The current strong underlying demand for steel in Europe, particularly in construction and end-user sectors, supports this price increase,” a Corus spokeswoman said. The price increases are effective for sales in the UK and in mainland Europe.