Steel prices are rising dramatically this summer. Pick your news source of choice as there are varying reasons why. The company I work for is a sheet metal furniture/storage systems manufacturer and as of June 1 we are looking at a range of anywhere from 1%-45% price increase across approximately 30,000 line items.
Needless to say some of our customers are none too happy with it!
I would venture to guess that the price increase you're seeing in automotive steel products is a direct result of the increase in cost of raw materials.
Thats exactly what we are hearing from our suppliers.We expect 15% increases in prices for steel in June and another reported 15% in July or August.
Steel has gone up almost double in a year.... yeah - it sucks.