Price Increase Notification - February 2021

Dear Valued Customer, 

You will be aware from recent communications that steel costs have continued to rapidly escalate. Key steel making inputs such as scrap, coking coal, Nickel, and containerised shipping costs have continued to rise significantly. In the past few weeks almost all our suppliers have announced increases of a magnitude that we can no longer absorb and we will now need to pass these onto the market. 

Therefore effective 15 March 2021 we increase the following categories as follows; 

Structural Steel +9%  

Hollow Sections (RHS/SHS, ERW tube) +11% 

Pipe- Galvanised, black, line pipe +13% 

Valves and fittings +8-12% 

Merchant Bar +14-16% 

Reinforcing products +14% 

Wire/fencing +5% 

Stainless Plate/Sheet + 10-14% 

Stainless Bar, Angles +6-8% 

Stainless Tube +15% 

Engineering Steels(selected products) +5-15% 

Plate +12% 

Coil + Sheet +10- 15% 

Fasteners 8-14% 

Other products, including selected regional freight & processing charges  + 2-6% 

We are also revising our “Procurement Update” guide which provides more detail on the dynamics of the international markets and some useful background, this will be loaded on the S&T website next week. We acknowledge that the rapid inflation can be a difficult environment to operate and trust that our prompt notification is of assistance. 
Should you have any specific questions please don’t hesitate to contact your usual S&T representative or our customer experience centre for more information. 
Once again, thank you for your continued custom. We will endeavour to keep you well informed in this dynamic steel environment. 
Yours Sincerely 
Marc Hainen
GM – Distribution.