Increased production rates affect steel prices

We have learnt from suppliers that there is concern in the steel market. They see a looming shortage of certain steel grades as a result of increased production rates worldwide. The production of steel has not kept up, which has led to price increases and longer lead times from steel mills. Sharply increased freight from Asia has also played a role. We are now forced to review incoming orders and check the price of materials after the expiry of quotations. We are of course in dialogue with our customers to see how we can best resolve the situation.