28 February 2022
Dear Valued Customer,
Since our last communication in early November, the steel pricing environment has continued to evolve. Whilst the rate of increases in some raw materials has moderated, others have continued to move upwards. Most local and international mills continue to operate at capacity and with allocations across the majority of products produced.
The NZD has declined steadily relative to the USD, and this again lifts prices in NZD terms. Key Stainless input Nickel has risen to 11 year highs. In addition to this, international shipping costs remain elevated and rising fuel prices are continuing to impact across the whole supply chain. Therefore, we now need to increase a number of product prices.
Effective Friday 1st April 2022 prices will increase as follows;
We are completing a new “Procurement Update”. This has been a popular feature and covers in some detail the steel pricing environment and the macro drivers of these changes - this will be available in the next week on our website.
We understand the current environment is challenging with the Omicron outbreak causing disruptions across the country. We have a number of mitigations in place including working to operational “bubbles” to ensure continuity of supply. We will continue to bring updates on this and keep you informed of any issues.
Once again, we appreciate your support and continued custom. Should you have any specific queries please contact your usual Account Manager or our Customer Experience Centre.
Yours Sincerely
Mo Afroz GM Roll Forming
Marc Hainen GM Distribution
Peter Ensor GM Reinforcing