Steel price hike dents smaller companies

2008-07-03 00:00

Recent steel price increases have meant that medium- to smaller-sized companies carry the brunt of the price increases and many are now experiencing cash flow problems.

“Highly geared companies are also at risk. They are already feeling the pressure of the interest rate hikes. Consumers purchase from these smaller steel suppliers, but consumer spending is down due to high interest rates, petrol price increases and inflation on food and other goods. Smaller companies are therefore losing turnover.”

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