April 21, 2021
PRICE INCREASE ANNOUNCEMENT – JUNE 28, 2021
To Our Valued Customers,
Once again, the U.S. steel mills have announced a price increase for hot-dipped galvanized steel. This latest installment will affect orders slated for July arrival.
In response to our supplier’s latest price increase announcement, it has become necessary for CEMCO to raise prices for the eighth time since last November. Effective with shipments on or after June 28, 2021, CEMCO will increase prices on ALL PRODUCTS FOR ALL MARKETS.
NOTE: This increase is in addition to our previously announced 20% increase effective May 3, 2021.
The cause of these announcements is rooted in a tight supply, which is inadequate to meet the needs of demand, both domestically and globally. At present, we have no visibility to any event or market change that might provide any short-term relief. Average lead-times for galvanized coil remain extended to unparalleled levels, exceeding 10-1/2 weeks as recently reported by Steel Market Update (SMU).
In anticipation of lead-times approaching the June 28 effective date, corresponding price sheets will be issued over the coming weeks.
As per our written job quote policy, all quotes will be honored if they were committed in writing within ten (10) days of being written. In addition, both parties to a “committed” job quote shall honor quoted prices regardless of market conditions.
Please refer to CEMCO’s job quote policy posted as follows:
Thank you for your continued support.
CEMCO Sales Management Team