Since late last year, the steel market has been dramatically impacted by a variety of issues. They have faced drastically reduced capacity during the pandemic as demand diminished, while now the demand has increased at numbers beyond the mills’ capabilities. They are increasing capacities, but the global demand has also risen exponentially. While domestic steel manufacturers push to produce at pre-pandemic levels, it is expected that the high demand will continue to keep the supply tight and the prices high for the foreseeable future. It has been over a decade since we have seen these kind of extreme prices!
Our manufacturers have been working with suppliers closely to minimize effects to distributors such as ourselves, and they have been absorbing all increases to date. However, they are understandably unable to do so any longer and are all passing along surcharges to us beginning no later than March 1, 2021. Unfortunately, this means we will also have to pass these charges along to our valued customers as we are unable to withstand these kinds of costs being a small business. Please be assured that they will be kept as minimal as possible, and we will be transparent about these costs. We are hopeful that you understand, and please know that these surcharges will be removed as soon as possible. None of us are happy about this, but it is akin to the drastic increases that have been happening in the lumber market for months. Eventually things will go back to normal….
We thank you, our valued customers, for continuing to stand strong with us during these difficult times. Together we will all weather this storm as we have weathered so many before! All of us at Able Equipment are proud to be here for you – in anything you may need. Please don’t hesitate to email, call or stop by today!!