In view of the current crisis in Ukraine our thoughts are with the entire population, and we wish them safe passage through what is possibly the worst experience imaginable.
The complexity of this conflict and potential impact on the steel supply chain will be far-reaching and therefore we believe it is important to inform you of the following:
- At the moment, our current supply chain is not directly impacted. In addition, we are well stocked with a robust stock profile across all our products and have orders placed for the coming months. We can also absolutely assure continuity of supply to all our customers.
- The UK is not as dependent on Russian gas supplies as many of our neighbours, and the majority of our steel is sourced from UK mills, however the general shortage of gas in the market will no doubt have a significant impact on energy prices for all, both commercial and domestic customers. It is also likely European mill supply will be disrupted in the short term due to energy shortages and possibly enforced shutdowns to combat rising energy costs.
- Significant amounts of steel raw materials are exported from Ukraine which has ceased with immediate effect. This will without doubt create challenges across Europe with regards to steel supply.
In summary, the supply chain will face challenges in the short to medium term and we do expect prices to rise sharply as a result but as always, the B&M Group is exceptionally well positioned, with healthy stocks to ensure continuity of supply across all products.
Commercial & Operations Director