Fresh shock structural steel price hike
Structural steel prices have jumped again after British Steel announced its fifth price increase since July.
The latest £50 a tonnes rise in January has left steelwork contractors reeling and means that the price of structural steel has soared from around £500 a tonne this summer to over £700 a tonne.
The speed of the rise is unprecedented and has been blamed on sharp rises in raw material costs, quotas and scrap availability, which has also pushed rebar prices through the roof in the concrete frame sector.
The UK’s other major producer Arcelor has been shadowing the rises over the period and is also putting up its prices this month.
Recent spate of increases
£/ tonne rise: July +£30; August +£30; Nov +£40, Dec +£80; Jan +£50
updated: 14/01/2021
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