Tata Steel will raise transaction prices for structural sections in the UK by £50 per tonne effective on all deliveries from Sunday January 2, 2011.
The increase is necessitated by continuing high raw materials costs and the need to set new, sustainable market levels in the New Year.
Mick Maloney, Tata Steel commercial manager for sections, said: 'Stock levels in the structural sections supply chain are low at present. We expect demand to improve in the New Year, because inventory will have to fill up ahead of the return of the construction season towards the end of Q1 2011.'
Tata Steel has written to its sections customers to inform them of the price increase.
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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, the company supplies steel and related services to the construction, automotive, packaging, material handling and other demanding markets worldwide.
It is a subsidiary of Tata Steel, 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.