Because they were shut down for some time, many mills cannot produce enough steel to meet the current demand.Īlso, there are several new and upgraded steel mills that are coming online.
However, the higher demand is taking a toll on steel mills. For contractors and manufacturers who rely on consumers buying their services, this is a great thing. From about March to August of 2020, the metal market demand was relatively stable.Īs construction has picked back up recently and various economies have started to open up nationally, the demand for metal is high again. Conversely, some of the demand for steel and metal products went down due to mandated shutdowns and other necessary measures to keep people safe. This is not a Sheffield Metals-only issue, it’s more of a global supply problem that every business and every consumer is facing.įor a little background, back in the early spring of 2020, when COVID-19 took hold in the United States, several domestic steel mills that produce flat-rolled products shut down. The state of the steel market is a by-product of a number of domestic and international events. What Is Happening With The Steel Market in Late 2020, Early 2021 Considerations and information to help contractors and fabricators.What the shortage and price increase means for manufacturers.What’s been happening with the steel market during late 2020, early 2021.We’ve experienced price fluctuations and material shortages in the past, and we know how critical it is for you to understand why steel prices are rising and how this affects you. So, do you know what is causing this increase? Do you know about some of the actions you can take to protect your business?įor 20+ years, Sheffield Metals has been providing metal sheet and coil products to roofing contractors and manufacturers all across North America. Steel costs are at an all-time high, which is impacting everyone who is buying or selling steel products, including metal roofing systems. However, this isn’t just a small price increase. If you’re in the metals industry or another industry that deals with steel in any capacity, you’re probably aware that steel prices are on the rise.
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