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Corus to Up Prices for Sections and Plate
09/08/2009 - Corus is increasing prices for sections by £25/tonne, commodity plate by £30/tonne, and non-commodity plate by £40/tonne as demand improves for steel long products and as raw materials costs increase.
Corus is increasing prices for sections by £25/tonne, commodity plate by £30/tonne, and non-commodity plate by £40/tonne as demand improves for steel long products. Recent increases in raw materials costs, such as scrap, are another reason for the price hikes.
The price changes for sections produced in Scunthorpe and Teesside, and for reversing mill plate manufactured in Dalzell and Clydebridge, Scotland, as well as in Scunthorpe, will apply to all newly booked U.K. deliveries from October 4.
“We are seeing more robust demand for our product range, including sections and plate. Demand has been improving from low levels, particularly in the U.S. and Asia, though the rate of recovery in the U.K. and Europe is expected to be slower. We also believe destocking is nearing its end in many product areas,” said Martin Maley, Corus Commercial Director for Long Products.
Corus has been working with key customers to achieve better-balanced inventories, which it claims has helped to smooth out spikes and troughs in orders and production.
Corus is Europe's second largest steel producer. With main steelmaking operations primarily in the U.K. and the Netherlands, Corus supplies steel and related services to the construction, automotive, packaging, mechanical engineering, and other markets worldwide. Corus is a subsidiary of Tata Steel, one of the world’s top ten steel producers. Following the acquisition of Corus in 2007, the combined enterprise has an aggregate crude steel capacity of more than 28 million tonnes and approximately 80,000 employees across four continents.
“We are seeing more robust demand for our product range, including sections and plate. Demand has been improving from low levels, particularly in the U.S. and Asia, though the rate of recovery in the U.K. and Europe is expected to be slower. We also believe destocking is nearing its end in many product areas,” said Martin Maley, Corus Commercial Director for Long Products.
Corus has been working with key customers to achieve better-balanced inventories, which it claims has helped to smooth out spikes and troughs in orders and production.
Corus is Europe's second largest steel producer. With main steelmaking operations primarily in the U.K. and the Netherlands, Corus supplies steel and related services to the construction, automotive, packaging, mechanical engineering, and other markets worldwide. Corus is a subsidiary of Tata Steel, one of the world’s top ten steel producers. Following the acquisition of Corus in 2007, the combined enterprise has an aggregate crude steel capacity of more than 28 million tonnes and approximately 80,000 employees across four continents.
