Steel prices break records, companies lose

Steel prices break records, companies lose

Steel products now cost more than at the peak of last year’s boom. Their prices are at record levels.

Cold bent sections, ribbed bars and scrap are becoming more expensive. Przemysław Sztuczkowski, Cognor’s CEO, says that it is an effect of stopping steel deliveries from the eastern border, rising fuel and energy prices as well as uncertainty of raw material supplies. Currently many European steel producers are not increasing production or are halting it. This is because they are not sure whether they will be able to buy raw materials and fuels.

Construction companies, especially smaller ones, are also losing out on rising steel prices. Railway vehicle manufacturers also consume a lot of steel. More expensive steel, rising fuel and energy prices, as well as high inflation and depreciation of the zloty will translate into rail vehicle prices.

Source: https://www.pb.pl/ceny-stali-ida-na-rekord-1144205

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