Price increases to be effective March 1, 2021
ELK GROVE VILLAGE, ILL [Feb. 9, 2021] – As the steel industry continues to experience high levels of demand and limited supply, an impending price increase in PAC-CLAD steel products is on the horizon. Robust demand continues to come from almost all sectors of the industry including automotive markets, equipment manufacturers and construction, and input costs for products such as iron ore have experienced steady price increases. Fastmarkets AMM, an industry publication, recently made note that its weekly price assessment of coated steel products (Galvalume and Galvanized) notched 25 consecutive weeks of price gains, rising more than 115% in that time frame.
In light of these market pressures, prices will be raised for PAC-CLAD steel sheet and panel products between 11% to 16% (depending on the item) effective with orders placed on or after March 1, 2021. In addition, the prospect remains that Petersen will be passing along an additional cost increase in early Spring 2021.
Download a PDF of Mike Petersen’s letter to customers.