So – since our post yesterday about whether the price of industrial fasteners is or will be going up in the near future, we read emails and commentary from other sources with stories about price increases.
To a person, each told a story about either an increase in shipping costs, warehousing costs, raw materials costs, manufacturing costs and as a result, an increase in fastener prices.
One of the commentators provided a link to an excellent article about the current pricing increases of rebar in China.
Here is a link to the piece titled “Shanghai rebar futures hit record high after holiday”
In short, the article explains how steel rebar future prices are up on the Shanghai market due to increases in the price of iron ore and coal, both commodities hit by world wide inflation.
It will be interesting to see how quickly these price increases hit the end user, manufacturers, OEMs, HVAC, MRO and the like.
But if one thing is for sure, it is that things will be getting more expensive very soon.