In a letter to its customers sent on December 6, 2013, Tata Steel UK Ltd said that it has increased its domestic prices for flat rolled strip products by £30/mt ($50/mt) effective immediately for all new orders.
In its statement, Indian steel giant Tata Steel's UK-based subsidiary said that the increase is based on the improving business environment in the UK, where economic growth has accelerated, and in the euro zone, which has reported the restarting of economic growth after a period of recession, as well as being based on the improvement in demand expected in early 2014.
The new prices after the increase are open to further negotiation.