CHESTERFIELD, England—Steel boss James Brand raises his voice above the roar of metal being funnelled into a foundry furnace as he details how rampant costs have pushed him to raise his prices by 70 percent.
Yet he says that, despite this hefty hike, his customers in sectors including oil and gas, autos, and construction are placing new orders at a record-breaking gallop. His order book has ballooned from the usual 4–6 weeks to 6 months.
