Why Are Steel and Aluminum Prices Increasing?
Prices of some metals are once again fluctuating. Shortages on certain elements, supply and demand values, and shipping and importing costs rise and fall regularly, causing price variations for many different types of metals (The Balance, 2018). Materials like copper, stainless steel, and aluminum change fairly frequently. But recently, steel and aluminum have spiked to unusually high prices. At Arizona Iron Supply, we know you’re the expert on the uses of sheet metal, metal components, and the durability of metal. If you’re wondering about the recent hike in prices of steel and aluminum, here’s the scoop.
In order to strengthen the steel and aluminum industry in America, all steel and aluminum from nations other than Canada and Mexico now has an import tax associated with it. As of March of this year, the tariff was officially put into action. President Trump commented that, “A strong steel and aluminum industry are vital for our national security.” The goal of the tariff is for more manufacturers to purchase steel and aluminum from companies located on our own soil (NPR, 2018). While our nation adjusts to the new tariffs, prices may be higher on components made of steel or aluminum.
We are still actively working to keep our pricing competitive, despite the recent changes in the metal industry. At Arizona Iron Supply, we offer a number of steel and aluminum products. If you’re in need of aluminum castings, aluminum sheets, stainless steel rail, or any of our other steel and aluminum-based items from our large catalog of products, don’t hesitate to price check those items with us. In a hurry? Pick up the phone and call us. We’ll do our best to promptly answer all of your questions on lead times and pricing. We look forward to supplying you with all the metal products that can help your metal fabrication business grow.
Images used under creative commons license – commercial use (9/29/2018) Eric Holcomb (Flickr)