European steelmaker Corus has announced its decision to increase its UK wire rod prices for Q3 2007 by a minimum of seven percent, to take effect from July 2. This imminent increase will follow the producer's price rise of 8-10 percent implemented in Q2 this year.
The company cites robust demand for wire rods across Europe, historically high energy costs, and rises in costs such as iron ore and logistics, as the reasons behind its decision to up prices.