FOR IMMEDIATE RELEASE:
Organizational Changes – Supporting our Valued Customers and CMI Business Growth
September 1, 2017
Continental Materials, Inc. (CMI) is pleased to announce several organizational changes and promotions of key employees that will reinforce CMI’s commitment to its customers and business partners as well as the expansion and support of its growing business.
FOR IMMEDIATE RELEASE:
Nail Supply/Galvanizing Process Shut-Down Update
August 25, 2017
CMI continues to be committed to keeping our customers apprised of up to date information regarding coil roofing nails to allow you to manage your business accordingly. The ongoing mandated government shut down of the galvanizing and plating lines in China are ongoing. While the original June shutdowns were locally mandated by regional government authorities, the August 12, 2017 shutdowns were federally mandated.
FOR IMMEDIATE RELEASE:
Nail Supply Update
August 18, 2017
As leaders in the supply of roofing nails CMI has a commitment and obligation to keep our customers informed of market and supply issues that may affect their businesses. As you know we have already made sure our customers are being kept up to date on the recent run-up in steel prices and freight that that is driving significant delivered cost increases.
FOR IMMEDIATE RELEASE:
Continued Increase in China Steel and Rising Ocean Freight Raise Nail Prices to Highest Level in Recent Years
August 14, 2017
The price of steel continues to be very volatile and moves almost daily. Since July 1, the price of wire rod has increased over 10% to 4200 RMB per ton, a 5 year high. Forced steel plant shut downs by the Chinese government for a myriad of reasons and the increase in the cost of iron ore used to make steel are driving these increases. Additionally the Chinese currency has been devalued against the US dollar 1.5% during this time along with a weakening dollar and have raised costs for wire rod to record recent highs. (example: a 1.5% currency devaluation of the RMB raises the cost by $.18 a box based on today’s costs). In just the past 60 days the cost of a box of roofing nails is up around $2.00 per box.
FOR IMMEDIATE RELEASE:
CHINA STEEL INCREASE AND GALVINIZNG MILL SHUTDOWNS CAUSING HIGHER PRICES AND DELAYED SHIPMENTS
June 30, 2017
As one of the largest importers and suppliers of roofing nails from China we wanted to make you aware of the recent events causing a spike in pricing and extended lead times. Over the past week the price of wire rod, the steel used to produce roofing nails, has risen 10% driven by rapid increases in iron ore. The price of wire rod has increased from $3420 RMB to $3750 RMB in one week.