Cost prices for Rebar have risen sharply over recent weeks as a result of the ongoing weakness in £/USD exchange rates. This has led to increased costs for raw materials such as scrap and Iron Ore, which are now coming under further pressure as a result of high demand in the Chinese Domestic market and speculation of major infrastructure spend following the US election.

Commenting on this Tony Woods – Midland Group MD, has urged caution in tender prices as the current price drivers look set to continue for the foreseeable future. Based on current indications it is likely that UK steel cost prices could be circa £ 100/t higher than September October levels by the year end.