Tata Steel raises prices for Scunthorpe wire rod
Tata Steel is increasing transaction prices for April deliveries in the UK of wire rod produced at its Scunthorpe Rod Mill by a minimum of £125, with some grades increasing by as much as £150 per tonne.
The price rise is being driven by continuing increases in raw material costs as well as improvement in demand for the product.
Prices for April deliveries of Scunthorpe wire rod in all other markets will also increase by between £125 and £150 per tonne equivalent.
Andrew Parker, Commercial Manager, Wire Rod and Bright Conversion, for Tata Steel’s European operations, said: “The cost of both iron ore and coking coal continues to rise to such an extent that we have to raise our prices. Market demand levels have also continued to improve, which supports a much-needed price correction throughout the supply chain.”
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