What is the effect of equilibrium price and quantity of the steel if the wages of steel if the wages of steelworkers rise and simultaneously the price of aluminum rises

First of all, equilibrium is a condition which exists in the market when the buyer's plans meet the plans of a supplier, so the demanded quantity is equal to quantity supplied.

In our example:

1. Rise of steelworkers wages lead to the increasement of productions costs, which makes the supply curve go to the left. That means that the supplied quantity is lower than before, but the price went up.

2. At the same time, the price of aluminium rises. Aluminium is a substitute (If a price of one good (aluminium) rises, it consequently increase the demand for other good (steel)), and as a substitute, this will lead to an increasement in the demand for steel. That shifts the demand curve to the right, so the price and quantity rise.

3. As a result, if the supply for steel decreases and the demand for steel increases, the equilibrium price for steel will rise, but the equilibrium quantity change cannot be determined.