ELK GROVE VILLAGE, ILL. [July 1, 2021] – Booming demand, constrained supply and a shortage of material throughout the metal industry supply chain continues to cause prices to rise. Raw steel and aluminum ingot are trading at record-high prices, demand is high on a global scale and availability is tight across the market. Ironically, the chip shortage that has slowed down the auto industry has served to reduce the seasonality of the metal industry, and as a result the typically slow third quarter is showing unusually strong activity. Consolidation at the mill level has put our suppliers in a position to have tighter control over production than in the past. The result is a market unlike any in decades.
Accordingly, a price increase will take effect on both of Petersen’s steel and aluminum PAC-CLAD product lines. Effective Aug. 1, 2021, Petersen is raising prices 10% to cover these cost increases. All products will be billed at price in effect at the time of shipment.
Download a PDF of President Mike Petersen’s letter to customers.
