Tata Steel is raising prices of its forging steels, engineering bar and aerospace products.
Base prices of forging steels will increase by a minimum of £40 per tonne on all deliveries from April 4. Aidan Lea, Commercial Manager, Processed Bar, said:
“Rising costs coupled with an increasing international demand for forging steels supports a much-needed price increase.”
Tata Steel Speciality, meanwhile, will increase base prices of its engineering bar products by up to 10% on all orders acknowledged for delivery from April 4. It will also increase base prices of aerospace products by 5% on all orders acknowledged for delivery from July 1.
Tata Steel Speciality Commercial Manager Richard Bell said: “We have been increasing production of engineering bar and aerospace steel products to meet rising demand levels throughout 2010.
“Supply chain inventories have returned to more normal levels following the economic downturn, and the recent demand increase is a result of end-users increasing their output.”
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About Tata Steel in Europe
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, they supply 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.