Dear Editor,
In the online news article `Minister hears of steep rise in steel prices’ (SN, 26th January 2021) it says that steel prices had risen by over 20% which is surprising as the world market price for steel has fallen by nearly 0.75% so far this year (source: www.tradingeconomics.com/commodities).
The online news article also said that shipping rates had increased by 400%.
Clearly, steel needs to be sourced from somewhere else to get reduced prices.
Yours faithfully,
Sean Ori