British Steel posted a new increase in structural steel of £30 per tonne. He cited rising energy and transportation costs as the reason.
The producer said it has implemented a new temporary steel price surcharge as it can no longer cover the rising energy and transport costs in the UK.
The first major industrial supplier to respond with a new round of price hikes in the face of the current gas price and transportation crisis told customers this week,
“As you will no doubt be aware of the impact of the price increase on the industry in the news and this price increase, energy and transportation costs continue to increase significantly. "So far we have absorbed these cost increases into our normal price increases, but with the continued increase in both costs, we have reluctantly decided that British Steel cannot cover these costs at our current prices."
The steel giant said that since the end of 2020, wholesale electricity prices have increased by an average of 300%, while natural gas prices have increased by approximately 400%.
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