Price increases to be effective May 3, 2021
ELK GROVE VILLAGE, ILL [April 7, 2021] – As the metals industry continues to experience high demand and constrained supply, Petersen is announcing price increases on its steel and aluminum products.
Contributing factors include demand that has recovered more quickly than anticipated, the 232 tariffs which remain in place making imported metal largely unavailable, inventory at distribution and consumption levels are low and production mills have not been able to catch up. Moving forward, planned mill outages scheduled for the 2nd quarter are expected to keep the market tight well into the summer. Additionally, Petersen has experienced a cost increase for its PVDF coating.
In light of the factors listed above, effective May 3, 2021 Petersen will be raising prices on PAC-CLAD steel sheet, coil and panels by 14%. In addition, aluminum prices will be increasing 8%. Furthermore, the prospect remains that Petersen might pass along an additional cost increase in early Summer 2021.
Download a PDF of Mike Petersen’s letter to customers.