Price increases to be effective Jan. 1, 2021
Petersen is alerting customers of forthcoming increases in its steel and aluminum pricing. The increases are the result of a combination of factors including overall strength in most metal end-use markets. The primary drivers behind the increases include:
- Increased prices from domestic mills due to higher raw material costs
- A spike in demand driven by replenishment of inventory following the Covid-19 shutdowns
- The increasing cost of inbound freight
- Fires at a major aluminum mill which caused tightened supply during a period of steady and growing demand
Accordingly, as a result of these combined increases in cost, Petersen will be raising prices on all PAC-CLAD steel and aluminum products 3% to 7%, depending on the product, effective with orders placed on or after January 1, 2021.