UK steel mills 'will raise prices in Q1 2018 to avoid profit squeeze'

Steel producers in the UK will need to continue to raise finished product prices in the first quarter of 2018 to prevent profit margins being “squeezed to unacceptable levels”, the UK-based National Assn of Steel Services Centres (NASS) said on Wednesday October 11.

NASS, which represents the UK’s steel stockholding industry, identified upward price pressures from a number of areas, including energy and transport costs, exchange-rate movements and the sharp rise in the cost of the graphite electrodes used in electric arc furnaces. “Substantial price increases [were] negotiated for supply [of finished products...

Published

Reginald Ajuonuma

October 11, 2017

16:35 GMT

London