11 February 2021
2021 Price Increases Hit British Steel
The Covid-19 pandemic has hit a lot of industries and steel fabricators are no exception. As a result of the recent surge in worldwide steel prices and the high level of raw material costs, British Steel has had to raise their transaction prices. The price rise came into play on 1st January 2021 and further announcements are due in July, August and November.
Looking at last years figures, the prices have increased by £230 per tonne for steel transactions since March 2020 – the beginning of the pandemic. This is a price increase of around 50%.
Why have they increased?
As well as the Covid-19 pandemic, there are a number of other reasons that have affected the price, these include:
- Brexit and leaving the European Union
- Steel mills across the world are at capacity due to such high demand. The majority can’t take on any more orders until April 2021
- The price of raw materials has increased
- Scrap prices are at an all-time high
- Iron ore prices have risen
- There is a worldwide demand for steel and the industry is having difficulty catching up
With the impact of the pandemic and Brexit on steel mills, many reported huge losses in the past few years. As with any financial loss, that money needs to be boosted back up giving more reason to increase their prices.
How will this affect our customers?
MAH Steel are one of the biggest steel fabricators in the South East and we use this to our advantage. Our trusted supply chain and strong buying power allows us to provide the most competitive prices to our customers. Alongside competitive prices, we pride ourselves on having a reliable and sustainable service.
We guarantee that when you contact us for a quote we will offer you the best price for your steel needs. Our steel fabrication services cover everything from structural fabrication, onsite steel fabricators, 3D modelling and welding to name a few.
So, if you’re in need of steel fabricators in the South East area, get in touch with our team for any queries or bespoke requests you may have.