OREANDA-NEWS. February 28 2011. Tata Steel is raising prices of its forging steels, engineering bar and aerospace products.

Base prices of forging steels will increase by a minimum of 40 per tonne on all deliveries from April 4, 2011. Aidan Lea, commercial manager, processed bar, said: "Rising costs coupled with an increasing international demand for forging steels supports a much-needed price increase."

Tata Steel Speciality, meanwhile, will increase base prices of its engineering bar products by up to 10 per cent on all orders acknowledged for delivery from April 4, 2011. It will also increase base prices of aerospace products by 5 per cent on all orders acknowledged for delivery from July 1, 2011.

Richard Bell, commercial manager, Tata Steel Speciality, said: "We have been increasing production of engineering bar and aerospace steel products to meet rising demand levels throughout 2010.

"Supply-chain inventories have returned to more normal levels following the economic downturn, and the recent demand increase is a result of end-users increasing their output."