May 1st, 2021
The metal industry has experienced a multitude of price increases that encompass just about every major component involved in the construction process. All forms of metal are being impacted in a major fashion.
Aside from price increases like we have never seen, our industry is experiencing shortages and unusually long lead times for painted and unpainted products.
In December of 2021, the painted metals industry was put on notice that there may also be a shortage of the resins needed to produce painted products.
What this means to current and potentially new customers and projects:
- Most of our quotes will be repriced at the time of acceptance. This is one situation where our quotes will actually expire. We have built some anticipated price increases into our quotes; however, they are subject to change. All quotes may be repriced after quote expiration dates.
- If you are planning a project in the future, be prepared to release that project weeks or months ahead.
- There are also labor and tricking shortages in our industry, which is leading to longer scheduling times.
How you can help your project:
- Price protects your bids.
- Plan on ordering well ahead of anticipated start times.
- Negotiate an open-ended contract that allows for added material cost increases once orders are finalized.
- Be flexible when it comes to certain colors and materials.
- Understand that projects may not be completed on time.
UNIVERSAL METAL SYSTEMS