Alcoa lifts European flat rolled product prices
NEW YORK, April 20
NEW YORK, April 20 (Reuters) - U.S. aluminum producer Alcoa Inc has raised prices for some rolled products at its European operations in Köfém, Hungary; Fusina, Italy; and Amorebieta, Spain, citing higher materials costs and increased demand.
The price increase takes effect immediately and is related to changing market conditions, due to extended lead times and increasing costs that have pressured the rolled products business in recent months, Alcoa said in a statement this week.
It said its Alcoa Global Commercial Transportation and Industrial Products Group increased the base conversion revenue by 35 euros ($46.20) per tonne for mill finish commercial rolled products made in those European plants, including aluminum plate, sheet and foil.
For all orders placed on or after April 13, the increase is effective for deliveries from June 1. Alcoa will honor all existing orders and binding agreements confirmed before April 13, it said.
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