Backlogs persist across all major regions with extended lead times. All of the above, combined with logistical bottlenecks, have resulted in significant price increases in HRC globally. The strength in demand trend is expected to continue in the near term, which will support prices, said Guarav. ArcelorMittal South Africa's prices are governed by the pricing principles agreed with and monitored by the South African government. These are based on the average price levels for similar products in global markets as well as the rand dollar exchange rate. Future steel prices and availability With South Africa currently following global market trends, material shortages, high transport costs and high input material costs, prices will remain erratic for the unforeseeable future with possible increases and reductions, said Wayne. 'We as Stewarts & Lloyds will do all in our power to keep price and stock impacts to a minimum,' he added.