Have you noticed? Steel pricing has been on the downswing at Steel Industries for the past year with some products being down up to 28%.
Revaluation of the Kina on 4 June 2014, the lower international price of steel in 2015, lower PNG custom duties and a reduced margin at Steel Industries throughout 2014 and 2015 have all contributed to this great adjustment.
Where are we going? Pundits are saying that commodity pricing has bottomed out and that the Kina will continue on a path of devaluation. If they’re right, pricing could start to escalate once again in 2016.
No doubt the time is now to buy steel at these historically low prices.