As a result of the continued rise in raw material costs we have seen a number of new price increases from manufacturers of civils products containing PVC, Polyethylene and Polymer Resin since our last update on 29th March. In addition we are now seeing price increases for iron, steel, geotechnics and PIR insulation, with availability now being impacted for all of these across the industry.
Raw material prices have increased over the past six months, with some of the key increases to date as follows:
Hot Rolled Steel 63%
Iron Ore 25%
Global logistical costs, increased demand and weather enforced factory shutdowns have led to producers issuing notifications that has left manufacturers facing significant price increases, restricted volume and the need to source more expensive products to keep supply in place. This has resulted in manufacturers having no choice but to pass on these price increases to the market to maintain supply of products.
We are continuing to work closely with our suppliers to minimise the impact on our customers, however we are also seeing reduced notice periods due to the overall situation. Once received we have been providing prompt notice on both the increase and the timings to our customers, to assist in their commercial decisions and will continue to do so.
Details of all supplier increases are published on our website here and will continue to be updated with any new increases received.
With our branches holding strong levels of stock, committed support from both our primary and secondary suppliers, and working with the latest supply information; we are in a good place to continue supply to our customers.
All of our suppliers have confirmed that sufficient raw material has been secured for the immediate future to ensure that production will continue. Despite this we are currently seeing extended lead times and in some instances stock allocations are being experienced.
The latest allocations advised to us are:
Polypipe Building Products - all
Keyline colleagues will work closely with our customers to keep them informed and manage any immediate allocations or shortages and where these challenges continue in the medium term we will remain in close contact, keeping customers informed as the situation progresses.
Finally, thank you for your continued support as a Keyline customer and should you have any immediate concerns please speak to your local branch or sales contact who will be able to keep you informed.