Steel Price Increase

[Tinman Steels Ltd]

What's everybody's thoughts on the steel price increase in January? Do you think it will be short lived or is the future going to be increase after increase.

We have received a letter this morning from a coil supplier that says a possible price increase of upto 11.6% from January onwards .

Sadly nobody seems to be able to give a difinitive answer on what prices are going up where and when.

 

[Forever Fendt]

its going up and will stop up as no serious over production anywhere and as ever there will be a false demand with people forward buying as much as they can to avoid any increase

 

[Steevo]

Thanks for the notice. I'll be needing some reinforcing mesh in the coming months so think I should get it booked now.

 

[Forever Fendt]

Thanks for the notice. I'll be needing some reinforcing mesh in the coming months so think I should get it booked now.

you may have missed the boat a bit box section up £190 per ton since april

 

[Tinman Steels Ltd]

Purlin prices are rising by approx 6%, a coil supplier I spoke to earlier today was on about one company has raised there prices by £1 p/m for January coil.

 

[Steevo]

you may have missed the boat a bit box section up £190 per ton since april

Bought plenty back in april and used in July. Now need some more for next April or so - better to buy it now than wait.

 

[Forever Fendt]

Bought plenty back in april and used in July. Now need some more for next April or so - better to buy it now than wait.

if you can keep it undercover, if you can not scrape the rust of with your nail down to clean steel its to rusty

 

[Steevo]

if you can keep it undercover, if you can not scrape the rust of with your nail down to clean steel its to rusty

I've never heard of that before. All reinforcing mesh is rusty when it arrives....and I don't think I've ever seen any not laid in concrete without rust.

@RWG Contracts

 

[Forever Fendt]

I've never heard of that before. All reinforcing mesh is rusty when it arrives....and I don't think I've ever seen any not laid in concrete without rust.

@RWG Contracts

surface rust is ok don't panic, we are talking heavy rust to the point of flaking so if you rub your finger nails over it falls away to leave rust underneath this along with minimum cover and pourous cement can lead to further problems , I am sure but don't quote me on this as blended cement with pbf ash is less water permeable and protects the rebar more

 

[MD @Minshall Buildings]

If it helps I received yesterday, a notification from British Steel advising section prices will increase a further £30 per tonne from January 2017. That's after rises of £30pt in October and £45 in November!
I am fairly confident this is not the end of increases and it's safe to assume this will be reflected at some point in rebar, coil etc.

Regarding comments about corrosion if you were to stock pile , I wouldn't be too concerned about rust on rebar just so long as you don't store it close to corrosive ( acidic) substances like cow muck,etc.

 

[Adam@Rumen]

I guess most of the raw materials needed for UK steel manufacture are imported?

 

[MD @Minshall Buildings]

correct and priced in $ !!

 

[Steevo]

Just priced up the mesh. 10% cheaper than when ordered in April! Order quickly placed!

 

[MD @Minshall Buildings]

Just priced up the mesh. 10% cheaper than when ordered in April! Order quickly placed!

seems you had a deal there! as that's definitely not happening in general and for once suppliers are holding the line on price.......feels a bit like a cartel!

 

[Steevo]

seems you had a deal there! as that's definitely not happening in general and for once suppliers are holding the line on price.......feels a bit like a cartel!

I am certainly counting myself lucky. I think the Brexit malarky caused a spike about May/June/July time which appears to have settled a bit as one supplier today was £25 a sheet vs the £30 or so I ended up paying for a few top-up sheets back then. Given the current trends of everything going up I'm trying to forward plan many commodity purchases.

 

[MD @Minshall Buildings]

sound move if you can...good luck!

 

[bobk]

I'm now announcing a 11% price increase for my wheat commencing Jan 1st, please form an orderly queue.

 

[Forever Fendt]

I'm now announcing a 11% price increase for my wheat commencing Jan 1st, please form an orderly queue.

if only

 

[Farma Parma]

So does that mean Scrap Metal Value will rise accordingly ???

 

[MD @Minshall Buildings]

So does that mean Scrap Metal Value will rise accordingly ???

scrap prices are rising but there is a lag...bit like with the oil price!