▪ Steel Prices continue to rise and are anticipated to reach all-time highs by Q3 2018.
▪ Steel mills have to recoup rises in raw material costs and has been successful in securing the proposed price increases.
▪ These increases have been supported by a shortage of raw materials and the absence of import offers due largely to anti-dumping tariffs imposed and continuing non favourable exchange rates.
▪ Supply restrictions are in place, with select mills reducing UK capacity by up to 50%.
▪ It is also worth noting that EU market prices are some 30 euros higher than current UK prices.
▪ UK outsell sheet and plate prices currently do not reflect replacement coil costs, with current delivered prices for sheet and plate on par with replacement coil costs.
▪ The majority of steel mills have announced Q2 increases, including Arcelor, Tata and SSAB. Year to date we have seen increases of £40.00p/t however we expect to see increases in the region of £60.00p/t minimum for Q2 – £20.00p/month for April, May and June.
▪ Demand is firm hence the need for stockholders/distributors to re-stock asap or shortages will appear in all popular sizes.