In recent months we’ve continued to keep our customers informed with transparent and timely updates on issues unfolding globally which may impact supply chains for many importers, manufacturers, retailers and builders.
This week the Australian Steel Institute published an update in their series focused on global steel market dynamics, available here, which continues to highlight a peak in demand for finished steel products.
As the update details, the increased demand has pushed benchmark prices to significantly elevated levels. This impact is expected to be felt for some time. Additionally, any changes in steel supply or global markets can have a significant impact here in Australia.
Steel Demand at a Global Peak
As the update from the Australian Steel Institute details, the increased demand has pushed benchmark prices to significantly elevated levels. This impact is expected to be felt for some time. Additionally, any changes in steel supply or global markets can have a significant impact here in Australia. Some of the notable market trends driving up prices, and straining availability of resources include:
- Growing global infrastructure projects encouraging nation-building in the post-COVID world
- Limited freight capacity and increasing shipping times – scarcity of containers has significantly increased freight costs
- Local agricultural investment in Australia as a result of strong seasons
- New home sales/starts remaining strong as a result of government incentives
Minimising Local Impact
As an Australian Made and Owned company, we harness our unique hybrid supply chain and global reach to provide our customers with reliable service and dependable quality, working to absorb and minimise these impacts as sustainably as possible.
Locally, Australia has also experienced a transport shortage impacting deliveries across all industries, exacerbated by ongoing lockdowns.
We wish to assure customers that continuity in their supply is our top priority. Our Galintel Coffs Harbour team have remained at peak production hours and volumes in order to provide consistent supply and high quality, despite the ongoing pressures outlined in the update.
Planning Ahead
We encourage customers to speak with their Galintel Representative regarding pre-booking truckload orders in advance. This provides consistency in supply and avoids any disappointment should transport availability be strained. Our facility in Coffs Harbour can accommodate large volumes of locally made Solid Base Angle and Traditional T-Bar in all variant sizes, however like all businesses right now we are limited by transport. Our team can work with you to develop forward plans for large project works, helping to schedule needs in advance to guarantee supply.
How Galintel Can Help
Our team is committed to providing you with confidence in your supply chain, working hard to ensure stocks are available to meet the surge in demand from the market.
We appreciate your patience and ongoing support. Our team is available to assist with any queries you may have, contactable via 1800 LINTEL or galintel@nepean.com.