-(220-x-200-px)-(130-x-130-px)-(220-x-200-px).jpg?lang=en-US&ext=.jpg)
Veolia.gif?width=200&height=200&mediaprotectionhash=4deca34a0d5a00013b5a0ccdc2dcf98fd2c17aabb57eb7bbb27200552f29c247&ext=.gif)
Tata Steel Raises UK Sections Prices in Response to Rising Raw Material Costs
01/31/2011 - Tata Steel will raise transaction prices for structural sections in the UK by £95 per tonne effective on all deliveries in response to increasing spot prices in coal and other raw materials.
Tata Steel will raise transaction prices for structural sections in the UK by £95 per tonne effective on all deliveries from March 6, 2011.
“The recent extreme flooding in Queensland has led to spot prices in coal and other raw materials markets, which were already suffering from chronic structural supply side constraints, to rise beyond anticipated levels,” said Mick Maloney, Tata Steel commercial manager for sections.
The company noted the rapid rise in steel prices around the world, as well as the recovery of global steel demand from the lows caused by the financial crisis and the new record for world crude steel production — 1.4 billion tonnes — that was recorded in 2010. All of these factors have helped to contribute to the tightening raw materials markets.
“The steel supply chain has no choice but to take robust action to recover these rapid increases in raw materials costs,” said Maloney.
Tata Steel has written to its sections customers to inform them of the March increase.
The European operations of Tata Steel (formerly known as Corus) comprise Europe's second-largest steel producer. With main steelmaking operations in the UK and the Netherlands, the company supplies steel and related services to the construction, automotive, packaging, material handling and other demanding markets worldwide.
Tata Steel is one of the world’s top ten steel producers. The combined group has an aggregate crude steel capacity of more than 28 million tonnes and approximately 80,000 employees across four continents.
