Steel sections prices are likely to increase in the coming weeks.
Spot prices for iron ore and coking coal have increased significantly and new contract prices are likely to reflect these increases. Hence steelmakers may increase their prices around early March by around £50 per tonne to try to recover these current input cost increases.
The mills' £25 per tonne increase from October 2009 was not fully passed on into the market place by all stockholders and hence some stockists may also be currently seeking to achieve this additional increase.