Structural steel prices to soar by nearly 20%

The rise will amount to a 15%-20% jump in the price of structural sections which fell to £430-£450 a tonne during the summer.

British Steel first put the industry on notice in early December for a £30 a tonne New Year rise, blaming raw materials costs and a surge in global steel prices.

But this notice was suddenly withdrawn seven days later.

Now it has come back with a figure that is nearly treble the original planned increase, blaming unprecedented increases in raw materials costs.

updated: 04/01/2021