Steel & Tube expects further steel price increases

Steel & Tube CEO Mark Malpass said he's having to plan carefully. (Source: Supplied)

Wed, 21 Jul 2021

Steel & Tube pushed its prices up again in early July by between 3% and 15%, making it about the fifth time it has increased prices since September last year.The company blamed the latest increases on high shipping and logistics costs as well as "elevated" costs of raw materials."It's been a really fluid market," chief executive Mark Malpass said after his company advised the market it will post much stronger annual earnings than analysts' consensus forecasts when it reports next month."Looking at the dynami...

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