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Soaring global prices push New Zealand steel up 14pc-2018 China(Guangzhou)Int’l Metal &Metallurgy Exhibition-metal
exhibition
11/15/2017 steel expo-metal &metallurgy expo |
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NZ Herald reported that rising international prices have prompted Fletcher Building''s Pacific Steel to increase costs to its New Zealand customers by 14%. Stan Clark, Pacific Steel''s sales and marketing manager, wrote to customers, telling them of the price hike.
Mr Clark wrote that "As an outcome of international steel price movements since the middle of the year, traded steel prices have increased here in New Zealand throughout that period. As a consequence, Pacific Steel has reviewed its prices and will be reflecting this market movement by increasing its prices by approximately 14 per cent commencing for orders placed for manufacture from the November production campaign.”
The head of one big Auckland-headquartered building business said the price rise illustrated the sorts of pressures being placed on the industry.
Whether it means some big construction jobs might be cancelled because the numbers would not stack up is uncertain.
The chief said the price rise made quoting on contracts much harder. Sub-trades were being asked to hold their prices for a set period so clients could be assured prices would not escalate, the building boss said.
Mr Mark Malpass, interim chief executive of Steel & Tube, sent out a letter in October telling of price rises. He wrote that "Global prices for finished steel and stainless steel products have steadily been rising over recent months, driven by increasing commodity prices used in steel making and greater demand for metal products. Of note over this period, have been the significant cost increases for coking coal, iron ore, nickel and zinc.”
Mr Malpass said that "Due to these market conditions over recent months, we have received price increases from our main suppliers which we cannot continue to absorb. It has therefore become necessary to increase our prices on a range of steel, stainless steel and allied products. The below headline increases will start to apply for orders placed and deliveries commencing from 15 November 2017."
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