Friday January 11, 01:29 PM
Corus to raise prices of aluminised strip steels
LONDON (Thomson Financial) - UK steel group Corus, part of Indian industrial giant Tata, said it is to raise aluminised strip steel prices.
Corus said the aluminised products business of its Corus Strip Products UK division will raise
the price of its aluminised strip steel by 60 eur per tonne for deliveries from the first quarter of 2008.
The company blamed higher raw material, power and transport costs and said it believed the market for metallic coated steels was improving.
Steels made by the aluminised products business are used in automotive exhausts, domestic appliances and other demanding applications.
Corus is Europe's second largest steel producer with annual revenues of more than 10 bln stg and a crude steel production of about 20 mln tonnes.
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