Hillfoot bring you an update on the June 2018 surcharges for carbon and alloy steels.
Surcharges for carbon and alloy steel grades have risen for June 2018, following a further 5.5% increase in Scrap.
The Scrap surcharge climbed £12 to £229 per tonne - up from £123 a year ago - meaning rises for all engineering bar grades.
That upward movement is particularly sharp for the surcharges of many alloy grades, as increasing activity in a number of key economic sectors continued to influence the market.
Simon Taylor, Hillfoot’s Executive Director, explains: “On top of the £12 per tonne rise in Scrap, alloy surcharges have also risen on the back of the sustained high demand for engineering steels.
“The steady resurgence of the oil and gas sector and associated raw materials has also pushed up prices.”