Stainless Steel and Aluminium price hikes are on their way
We have been advised by our material supplier of significant price increases in Aluminium and Stainless Steel to hit at the end of July. Prices are expected to continue to rise for a further two to three months.
With the EU exit affecting the value of the pound against both the euro and the dollar, this has caused prices on both Aluminium and Stainless Steel to rise sharply this month.
Coupled with this, there has been a big spike in the value of Nickel and, as this makes up a large part of Stainless Steel, prices are set to increase around 11.5% towards the end of the month.
Mild steel prices will also be set to increase.