CORUS STRIP ANNOUNCES PRICE INCREASES

[Steelonthenet.com] London, UK - Anglo-Dutch steelmaker Corus said today that it would be increasing hot rolled narrow strip prices by 5 percent, effective from 1 October 2006. Whilst stock levels throughout Corus' supply chains in the UK and elsewhere in Europe are at normal levels, the steelmaker is seeing strong order intake in the UK across most steel-consuming sectors.

'The steel industry continues to experience tight market conditions, and the announced price increase reflects these conditions and the continuing high costs of raw material and energy' said Corus earlier today.

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