Price rises spark global metal search
28 August 2012
Purchasers at manufacturing companies are searching the globe for cheap steel to reduce overheads and stay in business.
China's growing industries are consuming much of the world's supplies of scrap and have forced steel prices up by 30 per cent since January.
Steel supplier Corus is raising steel prices in July for the third time this year.
A spokesman said the company was renegotiating its long-term contracts with customers to take into account the price rises.
"We...