For IFNM, we have experienced a 25+ % increase in prices for metal, which tends to fluctuate daily.
We use re-claimed metal as much as possible and have tried our best to absorb this increase – but as a micro business that can be difficult to sustain.
Here is some information that we found online:
- “Stock prices for some of the nation’s biggest steel manufacturers dropped by as much as 47 percent in 2018 amid fears of slowing global economic growth . . . .”
- “We fully expect the players in the steel supply chain to have weaker years in 2019,” said Philip Gibbs, a metals analyst at KeyBanc in Ohio.
- Some expected that . . . "the rising prices as a boon to American steel companies. But the price spike ultimately hurt demand as industries that rely on the metal are passing the cost on to customers".
- “Steel prices remain under pressure to begin 2019,” said Michael Fitzgerald, a metals pricing specialist at S&P Global Platts.
Source New York Times – January 14, 2019
Picture courtesy of StockSnap
