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OT-Price of steel

Tspud1
Tspud1 Posts: 1,514
in EggHead Forum
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%.
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Comments

  • HeavyG
    HeavyG Posts: 10,380
    I wonder what could be contributing to that?
    “Reality is that which, when you stop believing in it, doesn't go away.” ― Philip K. Diçk




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  • Ozzie_Isaac
    Ozzie_Isaac Posts: 21,641
    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.

    I would rather light a candle than curse your darkness.

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  • fishlessman
    fishlessman Posts: 34,568
    HeavyG said:
    I wonder what could be contributing to that?
    no body wants to work as an enameler =)
    fukahwee maine

    you can lead a fish to water but you can not make him drink it
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  • stv8r
    stv8r Posts: 1,127
    Thank God our steel producers can now compete! So many honest hardworking Americans now have a chance to compete in the US steel market!
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  • Ozzie_Isaac
    Ozzie_Isaac Posts: 21,641
    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.

    I would rather light a candle than curse your darkness.

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  • nolaegghead
    nolaegghead Posts: 42,109
    I like gerbils
    ______________________________________________
    I love lamp..
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  • nolaegghead
    nolaegghead Posts: 42,109
    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!? 
    ______________________________________________
    I love lamp..
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  • DMW
    DMW Posts: 13,836
    Ozzie_Isaac said:
    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.
    They/Them
    Morgantown, PA

    XL BGE - S BGE - KJ Jr - HB Legacy - BS Pizza Oven - 30" Firepit - King Kooker Fryer -  PR72T - WSJ - BS 17" Griddle - XXL BGE  - BS SS36" Griddle - 2 Burner Gasser - Pellet Smoker
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  • fishlessman
    fishlessman Posts: 34,568
    steel prices will probably come down =)
    fukahwee maine

    you can lead a fish to water but you can not make him drink it
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  • DoubleEgger
    DoubleEgger Posts: 19,152
    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. 
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  • Tspud1
    Tspud1 Posts: 1,514
    DoubleEgger 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.
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  • Eoin
    Eoin Posts: 4,304
    DoubleEgger 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.
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  • Eoin
    Eoin Posts: 4,304
    Tspud1 said:
    DoubleEgger 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.
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  • GATraveller
    GATraveller Posts: 8,207
    nolaegghead said:
    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."
                                                                                  -Umberto Eco

    2 Large
    Peachtree Corners, GA
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  • RRP
    RRP Posts: 26,451
    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. 
    Re-gasketing the USA one yard at a time 
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  • dmchicago
    dmchicago Posts: 4,519
    I like rubber gerbils. 
    Philly - Kansas City - Houston - Cincinnati - Dallas - Houston - Memphis - Austin - Chicago - Austin

    Large BGE. OONI 16, TOTO Washlet S550e (Now with enhanced Motherly Hugs!)

    "If I wanted my balls washed, I'd go to the golf course!"
    Dennis - Austin,TX
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  • Tspud1
    Tspud1 Posts: 1,514
    Eoin said:
    DoubleEgger 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
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  • HeavyG
    HeavyG Posts: 10,380
    DoubleEgger said:
    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.
    “Reality is that which, when you stop believing in it, doesn't go away.” ― Philip K. Diçk




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  • tjv
    tjv Posts: 3,846
    edited March 2018
    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.
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  • fishlessman
    fishlessman Posts: 34,568
    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
    fukahwee maine

    you can lead a fish to water but you can not make him drink it
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  • Eoin
    Eoin Posts: 4,304
    fishlessman said:
    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.
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  • Botch
    Botch Posts: 17,343
    And when "the wall" goes up, so do our groceries, 300%!  'murica!!

    “The best way to execute french cooking is to get good and loaded and whack the hell out of a chicken."

         -  Julia child

    Ogden, UT, USA

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  • Sardonicus
    Sardonicus Posts: 1,700

    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

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  • sumoconnell
    sumoconnell Posts: 1,932
    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.
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  • GATraveller
    GATraveller Posts: 8,207
    Sardonicus said:

    "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
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  • Sardonicus
    Sardonicus Posts: 1,700
    GATraveller said:
    Sardonicus said:

    "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

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  • DMW
    DMW Posts: 13,836
    GATraveller said:
    Sardonicus said:

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

    They/Them
    Morgantown, PA

    XL BGE - S BGE - KJ Jr - HB Legacy - BS Pizza Oven - 30" Firepit - King Kooker Fryer -  PR72T - WSJ - BS 17" Griddle - XXL BGE  - BS SS36" Griddle - 2 Burner Gasser - Pellet Smoker
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  • GATraveller
    GATraveller Posts: 8,207

    "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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  • GATraveller
    GATraveller Posts: 8,207
    DMW said:
    GATraveller said:
    Sardonicus 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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