Mild Steel Forecast Prices 2024
Like most laser cutting companies our prices are dependant on the steel we provide as part of our overall laser cutting service. Whilst prices had been declining it now seems that, from January 2024, we will see an increase in mild steel of around £50.00 per tonne.
Part of the reason for the increase is that EU based steel mills have acted to stop the softening of prices by reducing capacity so demand outstrips supply and prices inevitably increase.
Steel import quotas also have an effect on pricing, whilst we won’t go into the technicalities, the import quotas are quickly exhausted allowing EU based steel mills to increase their costs as they become the main source of product availability.
Finally, as we head into winter coupled with the general instability in the global economy caused by the ongoing wars and conflicts looks likely to push energy costs higher. In turn steel mills input costs will increase and these costs will be passed on to the supply chain.
GF Laser will seek to minimise these increases by continually monitoring steel prices from their supplier base as well as absorbing material prices where possible.
For further details please contact a member of the GF Laser team.