Following Corus Long Products' price rise announcement last week the Structural Sections business has confirmed that all products within its portfolio will increase by £50 per tonne effective from March 1 2010.
The increase is driven by input cost pressures and by some level of demand beginning to return across the main markets the business serves.
Martin Maley, Commercial Director Long Products, commented: 'Structural sections prices have been struggling at unsustainably low levels in virtually all markets and throughout the supply chain.
'The additional input costs that suppliers have imposed have only served to exacerbate the difficulties producers and distributors are facing.
'Corus has a duty to all its stakeholders to maintain a sustainable business and therefore has no choice but to pass on the additional costs. This significant move still fails to recoup all of the increases in costs we are seeing and further price rises in the near future are highly likely.'
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About Corus
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.
For further information, please call
Bob Jones
Tel. +44 (0) 207 717 4532
bob.jones@corusgroup.com