Concern over rise in steel price

THE independent business organisation, ISME, said yesterday it is extremely concerned at the dramatic increase in steel prices, which is seriously impacting on members in the construction and metal fabrication industries.

Since the start of the year steel prices have increased by 20% on average, with this figure expected to rise over the coming weeks.

As a consequence ISME said the construction industry is facing a huge surge in the cost of steel and steel based products, resulting in a widespread inflation in the price of all steel materials used.