Hillfoot bring you an update on the October 2017 surcharges for carbon and alloy steels.
Surcharges for carbon and alloy steel grades have increased again in October following another increase in the Scrap surcharge.
Scrap has climbed to £207.00 per tonne, up from £182.00 in September. And this cost has more than doubled since last October’s £83.00.
Alloy surcharges have also seen a rise this month, particularly with Nickel, Silicon and Vanadium.
Simon Taylor, Purchasing Manager for Hillfoot, explains: “October continues to see surcharges rise driven by sustained high demand across sectors filling most steel producers’ capacity, leading to extended lead times and raw material shortages now impacting the market.
With most forecasting this situation to continue, raw material prices will continue to rise through the end of this year and well into 2018.”