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OT-Price of steel

Tspud1Tspud1 Posts: 1,012
Has any one else checked on steel prices to compare how much they have gone up? My stainless quote is 19% higher than last order. Enamel steel is up over 33%.

Comments

  • HeavyGHeavyG Posts: 4,936
    I wonder what could be contributing to that?
    Camped out in the (757/804)
  • Ozzie_IsaacOzzie_Isaac Posts: 8,797
    Tspud1 said:
    Has any one else checked on steel prices to compare how much they have gone up? My stainless quote is 19% higher than last order. Enamel steel is up over 33%.
    Luckily, none of that cost gets passed on to the consumer.
    If it is worth doing, it is worth overdoing.

    XL, Medium, Minimax, Blackstone Griddle
  • fishlessmanfishlessman Posts: 23,002
    HeavyG said:
    I wonder what could be contributing to that?
    no body wants to work as an enameler =)
  • stv8rstv8r Posts: 638
    Thank God our steel producers can now compete! So many honest hardworking Americans now have a chance to compete in the US steel market!
  • Ozzie_IsaacOzzie_Isaac Posts: 8,797
    stv8r said:
    Thank God our steel producers can now compete! So many honest hardworking Americans now have a chance to compete in the US steel market!
    Higher raw material costs on top of higher labor costs will make it even harder for US to compete with finished goods from overseas.

    I am all about America first, but I pesonally Don't see how we do this without hurting every other industry.
    If it is worth doing, it is worth overdoing.

    XL, Medium, Minimax, Blackstone Griddle
  • nolaeggheadnolaegghead Posts: 26,671
    I like gerbils
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  • nolaeggheadnolaegghead Posts: 26,671
    stv8r said:
    Thank God our steel producers can now compete! So many honest hardworking Americans now have a chance to compete in the US steel market!
     ...and thanķ god that pigs can fly and economists are just bleating sheep, am I right!? 
    ______________________________________________
    This is my signature line just so you're not confused.  Love me or hate me, I am forum Marmite.
    Large and Medium BGE, Kamado Joe Jr, Akorn Jr, smoker with a 5k btu AC, gas grill, fire pit, pack of angry cats, two turntables and a microphone, my friend.  Registered republican.
    New Orleans, LA - we know how to eat 

  • DMWDMW Posts: 12,470
    stv8r said:
    Thank God our steel producers can now compete! So many honest hardworking Americans now have a chance to compete in the US steel market!
    Higher raw material costs on top of higher labor costs will make it even harder for US to compete with finished goods from overseas.

    I am all about America first, but I pesonally Don't see how we do this without hurting every other industry.
    Stop with the logic, it doesn't seem to be in fashion these days.
    My Facebook Page where I document my cooking
    Morgantown, PA

    XL BGE - S BGE - KJ Jr - HB Legacy - BS Pizza Oven - 30" Firepit - King Kooker Fryer -  PR72T - 18.5" WSM - WSJ - BS 17" Griddle - XXL BGE - Akron Jr - BS SS36" Griddle
  • fishlessmanfishlessman Posts: 23,002
    steel prices will probably come down =)
  • DoubleEggerDoubleEgger Posts: 11,958
    HeavyG said:
    I wonder what could be contributing to that?
    Greed.  I have heard countless people talking about massive increases in steel prices from American steel that isn’t subject to tariffs. 
  • Tspud1Tspud1 Posts: 1,012
    HeavyG said:
    I wonder what could be contributing to that?
    Greed.  I have heard countless people talking about massive increases in steel prices from American steel that isn’t subject to tariffs. 
    That is happening already. Current inventory is going to be sold at a big profit. My products will have to go up, yet competition from outside US will not have same increase.
  • EoinEoin Posts: 1,522
    HeavyG said:
    I wonder what could be contributing to that?
    Greed.  I have heard countless people talking about massive increases in steel prices from American steel that isn’t subject to tariffs. 
    Reported here that 75% of steel supplied in the US is made in the US anyway - the tariff simply passes money from steel consumers (industry and ultimately the general public) into the steel industry. 

    If EU steel gets the tariff, equivalent value tariffs will be imposed in the other direction and then we're probably heading on a downward spiral.
  • EoinEoin Posts: 1,522
    Tspud1 said:
    HeavyG said:
    I wonder what could be contributing to that?
    Greed.  I have heard countless people talking about massive increases in steel prices from American steel that isn’t subject to tariffs. 
    That is happening already. Current inventory is going to be sold at a big profit. My products will have to go up, yet competition from outside US will not have same increase.
    Simple economics.  Beyond some Presidents people, apparently.
  • GATravellerGATraveller Posts: 5,409
    I like gerbils
    Don't forget the rubber sheets.

    "Social media gives legions of idiots the right to speak when they once only spoke at a bar after a glass of wine, without harming the community [...] but now they have the same right to speak as a Nobel Prize winner. It's the invasion of the idiots."

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    2 Large
    Peachtree Corners, GA
  • RRPRRP Posts: 22,050
    A little accounting knowledge is in play here. "Cost of goods sold" is based on how a company which uses steel or any other material values their inventory. There are two methods - "FIFO" means First In First Out. In other words in the case of rising steel prices the oldest material acquired at the old lower cost is used first thus the cost of goods sold are lower so their profit margin is higher. 

    The other method is "LIFO" which means Last In First Out. In the case of rising steel prices the latest material acquired at the new higher price is used raising the cost of goods sold and lowering profit and therefore the price is raised to maintain their level of profit. 
    L, M, S, &  Mini
    And oh yes...also a 17" BlackStone gas fired griddle! 
    Ron
    Dunlap, IL
    Re- gasketing AMERICA one yard at a time!
  • dmchicagodmchicago Posts: 1,056
    I like rubber gerbils. 
    Philly - Kansas City - Houston - Cincinnati - Dallas - Houston - Memphis - Austin - Chicago - Austin

    Dennis - Austin,TX
  • Tspud1Tspud1 Posts: 1,012
    Eoin said:
    HeavyG said:
    I wonder what could be contributing to that?
    Greed.  I have heard countless people talking about massive increases in steel prices from American steel that isn’t subject to tariffs. 
    Reported here that 75% of steel supplied in the US is made in the US anyway - the tariff simply passes money from steel consumers (industry and ultimately the general public) into the steel industry. 

    If EU steel gets the tariff, equivalent value tariffs will be imposed in the other direction and then we're probably heading on a downward spiral.

    They are raising the price on 100% of the steel. Much of the steel we use is from the US. Dont know if we can print price lists fast enough
  • HeavyGHeavyG Posts: 4,936
    HeavyG said:
    I wonder what could be contributing to that?
    Greed Crony Capitalism.  I have heard countless people talking about massive increases in steel prices from American steel that isn’t subject to tariffs. 
    FTFY.
    Camped out in the (757/804)
  • tjvtjv Posts: 3,721
    edited March 13
    I just put in an order for 7,000 lbs of 304 EPQ wire. I specify the NAS plant so it's USA rough drawn. This order is up about 14% from the order delivered last month.

    My supplier has been paranoid over this surcharge. He tells me it will go up again, maybe 25% on next order.  I think this is a chance for all in the supply chain to jump on with a price increase. Well see how it goes.  

    I'll be curious to see what happens to DFARs from Europe.

    t
    www.ceramicgrillstore.com ACGP, Inc.
  • fishlessmanfishlessman Posts: 23,002
    tjv said:
    I just put in an order for 7,000 lbs of 304 EPQ wire. I specify the NAS plant so its USA rough drawn. This order is up about 14% from the order delivered last month.

    My supplier has been paranoid over this surcharge. He tells me it will go up again, maybe 25% on next order.  I think this is a chance for all in the supply chain to jump on with a price increase. Well see how it goes.  

    I'll be curious to see what happens to DFARs from Europe.

    t
    i dont think its from the tariffs yet, some of my high alloy quotes are only good for 5 days the last few months
  • EoinEoin Posts: 1,522
    tjv said:
    I just put in an order for 7,000 lbs of 304 EPQ wire. I specify the NAS plant so its USA rough drawn. This order is up about 14% from the order delivered last month.

    My supplier has been paranoid over this surcharge. He tells me it will go up again, maybe 25% on next order.  I think this is a chance for all in the supply chain to jump on with a price increase. Well see how it goes.  

    I'll be curious to see what happens to DFARs from Europe.

    t
    i dont think its from the tariffs yet, some of my high alloy quotes are only good for 5 days the last few months
    They just know they can get away with an increase now.
  • BotchBotch Posts: 6,335
    And when "the wall" goes up, so do our groceries, 300%!  'murica!!

    _____________________________________________
     
    Live fast, die young, and leave a well-marbled corpse.  
     
    Ogden, Utard.  
  • SardonicusSardonicus Posts: 1,708

    At least we're great again.

    "Too bad all the people who know how to run the country are busy driving cabs and barbecuing."     
     - George Burns

  • sumoconnellsumoconnell Posts: 1,422
    RRP said:
    A little accounting knowledge is in play here. "Cost of goods sold" is based on how a company which uses steel or any other material values their inventory. There are two methods - "FIFO" means First In First Out. In other words in the case of rising steel prices the oldest material acquired at the old lower cost is used first thus the cost of goods sold are lower so their profit margin is higher. 

    The other method is "LIFO" which means Last In First Out. In the case of rising steel prices the latest material acquired at the new higher price is used raising the cost of goods sold and lowering profit and therefore the price is raised to maintain their level of profit. 
    Agreed here - and also there is the marketing/business angle you see in the thread.  The simple threat of a tariff means folks can preemptively raise prices and blame the rest of the supply chain.  


    +++++++++++++++++++++++++++
    Austin, Texas.  I'm the guy holding a beer.
  • GATravellerGATraveller Posts: 5,409

    "At least we're great again." 
               - Jeremiah Wright Jr.           
     
    FTFY 

    "Social media gives legions of idiots the right to speak when they once only spoke at a bar after a glass of wine, without harming the community [...] but now they have the same right to speak as a Nobel Prize winner. It's the invasion of the idiots."

                                                                                  -Umberto Eco

    2 Large
    Peachtree Corners, GA
  • SardonicusSardonicus Posts: 1,708

    "At least we're great again." 
               - Jeremiah Wright Jr.           
     
    FTFY 
    Gee . . . I'd thank you
    if that was even remotely relevant.

    "Too bad all the people who know how to run the country are busy driving cabs and barbecuing."     
     - George Burns

  • DMWDMW Posts: 12,470

    "At least we're great again." 
               - Jeremiah Wright Jr.           
     
    FTFY 
    He didn't say that...

    My Facebook Page where I document my cooking
    Morgantown, PA

    XL BGE - S BGE - KJ Jr - HB Legacy - BS Pizza Oven - 30" Firepit - King Kooker Fryer -  PR72T - 18.5" WSM - WSJ - BS 17" Griddle - XXL BGE - Akron Jr - BS SS36" Griddle
  • GATravellerGATraveller Posts: 5,409

    "Social media gives legions of idiots the right to speak when they once only spoke at a bar after a glass of wine, without harming the community [...] but now they have the same right to speak as a Nobel Prize winner. It's the invasion of the idiots."

                                                                                  -Umberto Eco

    2 Large
    Peachtree Corners, GA
  • GATravellerGATraveller Posts: 5,409
    DMW said:

    "At least we're great again." 
               - Jeremiah Wright Jr.           
     
    FTFY 
    He didn't say that...

    No ****. 

    "Social media gives legions of idiots the right to speak when they once only spoke at a bar after a glass of wine, without harming the community [...] but now they have the same right to speak as a Nobel Prize winner. It's the invasion of the idiots."

                                                                                  -Umberto Eco

    2 Large
    Peachtree Corners, GA
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