STEEL PRICES RISE:
The carbon steel market is poised to grow by 699.35 MT during 2020-2024 progressing at a CAGR of almost 8% during the forecast period." (Source: Business Wire)
This is what we are seeing all across the industry; day after day new emails from vendor's telling us that their prices are rising, every order we make for materials needs to be revised because the last price is no longer valid, and for good reason. The cost of steel materials has been steadily increasing throughout 2020, and it unfortunately has not slowed into 2021. The reduced capacities of companies in this industry due to Covid-19 health and safety regulations continues to have an impact. As a result, we are forced to increase our list pricing for 2021 and add a steel surcharge to off-set the rising costs that is projected to continue this year. We apologize for any inconvenience this may have on our close and prospective customers. We we will do what we can to keep our prices low when the opportunities are found, but right now we are left with little options.
Thank you for your understanding and continued support.
JORDEN LEIB, VICE PRESIDENT OF SKID STEER SOLUTIONS
JP Excavator Couplers