A shortage of supply is threatening steel prices yet again, with BEAMA’s steel products group reporting rapidly rising raw material prices.

Industry sources believe the UK will experience a supplementary increase of up to £70 per tonne, due to rising demand from Asia, growing fuel costs and a dearth of basic feedstocks.

Prices for some grades and configurations of finished steel stock have doubled in recent months. This summer will be a critical phase.

For manufacturers and electrical contractors, this means uncertainty, deferments, and inevitable cost penalties.

BEAMA has released a list of pricing tips for contractors:

  • Buy steel-based products from reputable, well-recognised suppliers;
  • Check products are available;
  • Confirm actual prices with suppliers (the days of discounted products, when steel supplies were abundant, are over);
  • Order in advance;
  • Expect steel prices – and thus end-product prices – to further increase.

Source

Electrical and Mechanical Contractor