Steel maker Corus has said it expects to introduce further increases in the price at which it sells steel.

The rises, implemented later this year, should lead to much better performance by the company, Corus chairman Sir Brian Moffat told the annual shareholders' meeting.

The Anglo-Dutch steel firm, which is in the process of pushing through thousands of redundancies and selling off its aluminium business, has already raised prices once this year.

European producers, including Corus, raised prices in April after a wave of production cutbacks during last year, Sir Brian said.

In the United States, selling prices have risen this year, stimulated by government-imposed tariffs of up to 30% on steel imports, he said.

Corus expects widely-anticipated improvements in the global economy later this year to support any further prices rises.

Corus shares closed 0.5p higher at 88.5p in London on Monday.