(Image: Supplied)

From February 1, BlueScope customers will face a 38% price increase on steel fabrication products due to supply shortages and increased import costs caused by dumb government decisions.

The increases come amid a home building boom that has outrun supply for the monopoly steelmaker, and the crippling price hikes compound the problems for builders and other downstream makers.

Truecore, with its trademark blue colour, is one of the star products from the company, which late last year flagged a record profit this half year of $2.2 billion, compared with earnings of $1.9 billion for the 2021 financial year.