Corus, a Tata Steel affiliate, has announced today that it will increase the base prices of its reversing mill plate prices by £30/mt ($61/mt) effective for shipments as of December 30, 2007.
Commenting on the price rise, Richard White, General Manager Sales and Marketing, Sections and Plates at Corus, said, "Notwithstanding the strong global demand for plate, the steel industry, including Corus, continues to be subject to significant cost increases and, therefore, Corus Construction and Industrial will be raising prices for reversing mill plate by £30 per metric ton."