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neha
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Mon Sep 28, 2009 10:20 am
Post subject: TATA Corus increases engineering steels product prices Post
Corus announced an increase in prices on engineering steels, wire rod, bar and narrow strip. Apparent demand has improved from recent low levels as destocking has come to an end after a period during which consumption was hard hit by the economic downturn.

On domestic and overseas deliveries of these products from October 1st 2009, Corus will increase base prices and put into effect revisions to prices for size extras, extra processing and services. The size of increase will be dependent upon product and pricing structure and will be discussed individually with customers. The base price rise range will start at EUR 50 per tonne and go up to EUR 200 per tonne in the case of some high value steels.

Mr Peter Hogg GM of Corus Specialty Steels said that "The reductions in scrap and alloy surcharges as commodity prices dropped over the last 12 months have provided real value to customers at a difficult time in the market. The engineering steels sector worldwide has witnessed significant price erosion due to the weak market conditions and the improved conditions now support price corrections taking place."

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