Steel prices and fuel prices are headed nowhere but up in the coming months.
Price increases and surcharges have become commonplace, driven by increased steel costs and skyrocketing fuel prices. We look around and see manufacturers issuing price increases, steel surcharges and fees on a weekly basis. It’s industry-wide and it’s being driven by international demand and also some commodities market issues. We have seen manufacturers decline to provide a price – orders are priced at shipment. This is reminiscent of the 1970’s, and it’s welcome by absolutely nobody who runs an industrial facility or deals in material handling equipment.