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Corus will raise the price of structural steel by £20 per tonne from October 2, the steel giant announced this week.

Corus has felt the pinch from the rocketing cost of raw materials such as coal and iron ore and has raised its prices for products including columns and beams.

The cost of coal is 100 per cent higher than a year ago and iron ore is 70 per cent more expensive.

It is the second price increase in the UK this year. Corus hiked the price of structural sections by £20 a tonne in January.

Corus said that the demand for its products has picked up after customers who stockpiled steel sections last year used up their supplies.

Economic Research Unit
Franklin + Andrews

eru@franklinandrews.com