Hillfoot bring you an update on the September 2017 surcharges for carbon and alloy steels.
Surcharges for carbon and alloy steel grades have increased for September 2017 following another sharp rise in the Scrap surcharge, and are likely to climb further over the coming months.
Scrap increased from £162 per tonne in August to £182 this month - its highest level since 2014 and more than double the cost of 12 months ago.
There have also been upward movements in most alloy surcharges, with Nickel, Moly and Vanadium all seeing sizeable rises.
Simon Taylor, Purchasing Manager for Hillfoot, explains: “September saw increases in scrap and most alloys as steel mills returned from their summer shutdowns and re-commenced buying for their production.
“With sustained high demand for raw materials pushing up global commodity prices, surcharges are forecast to continue to rise for the remainder of 2017.”