September 08, 2008

Corus to raise engineering steel prices from May 2008

Corus announced that due to the continued strong growth in global steel demand, Corus Engineering Steels is currently experiencing significant increases in input costs as raw material and energy costs are rapidly escalating to unprecedented levels and as a result CES will be raising prices for Bright Bar sales in the UK.

It said that “With effect from May 1st 2008 base prices will be increased by a minimum of GBP 40 per tonne across the entire product range for all deliveries.”

The release added that as the global demand for steel continues to grow it is envisaged that availability will remain an issue over the coming months and therefore we anticipate further base price increases will be applied in Quarter 3.