Regrettably, we are advising of further finished steel price increases. The increases in international finished steel prices have continued and we have received a number of significant increases in the last month which we will now need to pass on. This is also impacted by shipping and steel mill supply constraints remaining commonplace, along with rising fuel prices. As New Zealand’s largest distributor of steel products we have utilised our scale to mitigate these increases as much as possible whilst ensuring availability is maintained at the highest levels possible.
We trust that this advance notice is helpful in your planning. Increases are effective on the following product categories;
1 December 2021
Merchant bar + 4%
ERW Tube +22-37%
Stainless Sheet +10% (some variances on grade)
Stainless Plate +10%
Stainless Welded & Seamless Hollows +5%
Stainless Tube & Fittings +5%
Stainless Bar +3-5%
I January 2022
NZS Plate +8-10%
Galvanised Coil/sheet +15-18%
Pipe & Line Pipe +5%
Hollow Sections +5% (marginally lower on larger sections)
Structural Steel +5%
Axxis Steel framing +25-30%
Rebar/mesh/galvanised wire increases are currently being confirmed but we expect increases of at least +15% from 1 January. We will confirm this as soon as possible.
Other selected products & freight run increases.
We will also publish a “Procurement Update” and this will be released on the Steel & Tube website later in the week.
Once again thank you for your ongoing support in what has been a challenging year in many aspects.
Should you have any queries please don’t hesitate to contact your usual account manager or our Customer Experience centre.
Yours Sincerely
Mo Afroz
GM - Roll forming
Marc Hainen
GM – Distribution