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Carbon & alloy steel surcharges update for May 2021

24th May 2021

Hillfoot brings you an update on the May 2021 surcharges for carbon and alloy steels.

Latest steel surcharge information from Hillfoot

Peter Morris, Supply Chain Director, said: “May has seen a welcomed easing in the movement of scrap and alloy surcharge. Whilst there has been some minor changes, it proved relatively static in comparison to the large upward movements observed over the last 6 months.

 

However, many are debating whether this is the calm before yet another storm as iron ore spot prices have seen their most aggressive increase through the course of May (see graph below). Speculation now surrounds how this will translate onto the scrap surcharge for June/July, and what increases we can expect.

Market demand continues to remain strong across domestic and European markets, reflected in mill lead times remaining extended. In some cases, new production deliveries are now being quoted for Q1 2022 delivery."

Iron ore spot prices in May

If you have any questions regarding how this may affect your raw material demand, please contact the Hillfoot team for advice on your material requirements, and price and availability information. We will be happy to discuss further.

You can also click here to find out how the changes have affected the surcharge for specific steel grades.

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