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Price increase on steel PAC-CLAD products

Petersen announces a forthcoming price increase on steel. The increase is a result of a combination of factors including overall strength in most of the steel end-use markets. The primary drivers behind the increase are as follows:

• Increased prices from our domestic mills due to trade regulation and uncertainty caused by the continuing section 232 investigation

• The recent addition of a zinc extra for both Galvalume and galvalume substrates – zinc is at a ten-year high in pricing

• An increase in coating cost passed on by our paint supplier, Sherwin-Williams Coil Coatings (which is now owned by Sherwin-Williams)

• A recent positive ruling for domestic (U.S.) producers that Vietnamese corrosion-resistant steel utilizing Chinese substrate did violate U.S. circumvention rules

Accordingly, as a result of these combined increases in cost, we will be raising the price of all PAC-CLAD steel products 4% effective with orders placed on or after January 15, 2018.