Dear valued customer,
Over the past few months, we have seen a number of developments that are likely to flow through to increased steel prices.
Illustrated in the graph below, international pricing for key steel categories is indicating an upwards price movement, that, together with the decline in the New Zealand dollar, could result in steel cost increases in NZ dollar terms.
We are seeking to mitigate these increases as much as possible, as we know the market conditions remain extremely tough for us all. Over the past 12 months we have also actively managed our costs to further reduce price pressures.
We are likely to have a better picture of the magnitude, and time frame, of any increases over the next few weeks, but wanted to provide advance notice of the likelihood of increases, in order to support your planning.
In the meantime, please reach out to your Steel & Tube contact for further enquiry.
Yours sincerely
Daryll Maiden | Acting General Manager Distribution
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