Tuesday, January 25, 2011

Steel prices set to soar

Steel prices are set to soar by 60 per cent this year according to industry experts.

The expected price rise in 2011, to an average of just under £610 a ton, has been caused by demand in the Middle East and the Australian floods which have shut down coal mines needed in steel production.

If the predictions are correct, then the rise in steel prices during the year will be the second-biggest jump since modern records began in the 1940s.

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