Steel prices to rise as grim fallout from Ukraine becomes clear

Steel prices to rise as grim fallout from Ukraine becomes clear
Steel & Tube expects prices are likely to rise further and stay higher for longer. (Image: Supplied)
Jenny Ruth
Steel & Tube is warning its customers that prices are likely to escalate further in what is shaping up to be "a super cycle".The company has been steadily increasing its prices since the second half of 2020.There had been upward pricing pressures even before Russia invaded Ukraine, but that conflict has only exacerbated pressures at all parts of the market for steel inputs from iron ore, coal and nickel to various grades of steel inputs such as steel billet and pig iron to oil and freight costs.The steel and related markets and ho...

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