Following Corus Long Products' price rise announcement in January, the company has confirmed a £60 per tonne increase on the base price of forging steels on all products for delivery from April 5, 2010.
This announcement is confirmation of, not in addition to, the increase announced in January.
Martin Maley, Commercial Director Long Products, said: 'Last year was a challenging year for the manufacturing sector, with weak market conditions leading to high stocks and increasing manufacturing unit costs.
'This much-needed price increase across the supply chain takes into account the rising input costs and increasing international demand for forging steels. The increase recognises the tenure of price agreements in this sector and, coupled with the application of variable raw material surcharges, will form the basis for annual price negotiations.”
Corus is Europe's second largest steel producer. With main steelmaking operations primarily in the UK 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. The combined enterprise has an aggregate crude steel capacity of more than 28 million tonnes and approximately 80,000 employees across four continents.
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