TARIFFS AND PRICING
It’s not just plastic resin prices that have been high recently. Over the past two years, raw material costs were at record highs. Prices for steel, lumber, and plastic all skyrocketed as demand surged and production stalled.
Between natural disasters, Covid-19 precautions, and labor shortages, 2020 and 2021 have dealt several huge disruptions to the global supply chain. The 2021 plastic industry has not been spared, with increased demand and production difficulties leading to dramatic price increases and product shortages. - Summit Packaging
“The shortage of aluminum in the United States has resulted in unprecedented increases in prices and may last up to two years,” according to Trulite’s price notification letter. “The cost of aluminum has risen more than 50% since January and experts believe it will continue to go up. Unfortunately, aluminum is not the only thing increasing in price. We have seen a dramatic increase in the cost for fuel, wood, and wages These increases make it necessary to implement an 8% price increase effective September 6 for all of our aluminum systems and their respective components.” - USGNN
IMPORT TARIFFS UPDATE:
Dateline: Mar 21, 2018 As we have all read recently in the news, new tariffs are being implemented to all aluminum and steel products being import to the United States. In addition to the 10% tariff that was announced for all imported aluminum on March 8th 2018, aluminum costs have also risen over $0.09 per pound since the beginning of 2018.
As Supply Bright strives to keep our cost increases to a minimum, it is inevitable that we will all see prices increases. It has always been our mission to offer the best product at the most reasonable pricing available, and we will continue to offer this service. However, there is still much unknown regarding these changes, and any implication it may have on future pricing of aluminum extrusions, pvc inserts, and other supplies. Please keep in mind these factors when quoting jobs and entering into any long-term projects.
We will be monitoring the situation as it moves along through our government. If you have any questions, please contact us at Supply Bright.