British Steel starts year with £75 a tonne price hike

In a letter to steelwork contractors this week, British Steel’s commercial director Ben Cunliffe blamed the continued rise in steelmaking costs in recent weeks.

It is the first significant rise in steel prices since September when prices were pushed up by £250 a tonne in two hikes over a matter of weeks.

But industry cost consultants later reported push-back from contractors with signs the increased pricing was not sticking as demand softened and fabricators were not willing to pay the proposed premium.