Tata Steel is increasing transaction prices for reversing mill plate and wire rod. The price rise is being driven by increases in raw material costs as well as improvements in demand for the products.
Prices for reversing mill plate will rise by £40 per tonne on all UK orders placed from 13 December 2010 for delivery from 1 January 2011. This price rise will also be applied to deliveries to continental Europe.
Paul Parkins, Tata Steel Commercial Manager, Plates, said: “The steel industry has experienced increasing input costs since the summer. During recent weeks there has also been a significant improvement in the demand for reversing mill plate. Both input costs and demand for plate are forecast to continue increasing during 2011.”
Tata Steel is also increasing the price of wire rod by €50 per tonne. The price rise will apply across the product range throughout Europe during the first three months of 2011.
Gareth Beese, Tata Steel Commercial Manager, Wire Rod and Bright Conversion, said: “European demand for wire rod has improved in the latter part of this year and we are expecting a gradual economic recovery to lead to further improvements in demand levels in the first half of 2011.”
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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.