Spain's Acerinox raises base prices by 50 euro/metric tonne in Europe

MADRID Tue Oct 2, 2012 9:36am EDT

MADRID (Reuters) - Spanish steel producer Acerinox said on Tuesday it has decided, with immediate effect, to raise it base prices by 50 euros ($64.53) per metric tonne in Europe.

"This is one of the measures Acerinox is taking to return to reasonable margins after a long period of stainless steel price deterioration and increases in raw materials and supplies," Acerinox said in a statement to the market regulator.

(Reporting By Paul Day; Editing by Jesus Aguado)