New Zealand Steel Limited have recently announced significant price increases on steel plate and coil. This will be flowing into the market in the very near future.
You’ll also be aware of the large drop in the $NZD v $USD and $AUD exchange rates. This along with major increases in overseas freight costs has escalated landed prices on all imported product into the domestic market.
The combination of these factors have led to substantial increases in our cost of goods which unfortunately we are not able to absorb and must now pass onto the market.
We will continue to monitor pricing, and whilst we always attempt to minimise increases, we expected that this underlying change in market conditions will lead to further price increases across our range.
Should you require any further information to the attached notification please contact your local Steel & Tube branch or your usual account manager, who can provide detail on your specific price movements.
Thank you, we appreciate your ongoing support.