Dear Valued Customer,
This notification is to update you on steel pricing across many of our product ranges.
Over the last six months global steel prices have continued to rise due to a significant escalation in raw material costs. These cost increases are now being passed onto Steel & Tube by steel supply mills. In addition, transport and logistics costs have also been under pressure leading to higher container, shipping and other freight charges. Our focus has been on working closely with all suppliers to minimise these impacts for our customers. As New Zealand’s largest steel distributor and importer of steel we are uniquely placed to mitigate these cost impacts by leveraging our scale and also to maintain continuity of supply.
However, the breadth and size of these recent supplier cost increases means we will need to pass them through to the market. This will mean a range of price increases for all deliveries from 17th May 2021 across the following product ranges (approximate);
Reinforcing bar & mesh +5%
Galvanised wire +6%
Pipe + Hollow sections +12-16%
Merchant bar + 7%
Structural sections + 10%
Plate & Sheet +6%
Other products +5-10% (excluding Stainless Steel, Colorsteel®, Purlins & Comflor®)
Further useful information on the market dynamics driving the steel industry pricing can be read in the ‘Procurement Update’ on www.steelandtube.co.nz.
If you have any queries, please contact your Account Manager or our Customer Experience Centre. We trust that the advance notice together with the guidance at a category level is helpful and thank you for your ongoing custom.
Yours Sincerely
Marc Hainen, GM – Distribution.