New price hikes for structural steel to £800 per tonne
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British Steel has shocked the industry with another price rise for structural steel with immediate effect which will compound the misery on fabricators and builders.
The increase of £50 per tonne is bringing to be the new normal with this being the seventh rise since last summer as reported by nationaltradesmen.co.uk the rise in steel prices and material in general fuelled by Covid and global pressures and has builders and contractors warning they can no longer absorb the shock rises.
With these latest price increase takes the price of standard sections to around £800 a tonne small builders and loft conversion specialists have been contacting nationaltradesmen.co.uk saying that they just can’t absorb these costs nor pass them on to customers.
Since May 2020 steel prices have risen by around 40% with the scale and speed of the rises unprecedented.
A fabricator and still suppler commented saying that: “There has been no way to plan for these price hikes they come out of the blue and take immediate effect there is no way we can pass on these costs at such short notice.”
Recent spate of increases
£/ tonne rise: July +£30; August +£30; Nov +£40, Dec +£80; Jan +£50; March +£30; May +£50