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TARIFFS:
Get Ahead of the Coming Increase
The continually rising price of wire and electrical products, primarily made of steel and aluminum, is showing up in immediate price increases for pedestals and other electrical equipment. I have seen notices cross my desk for the past 3 weeks that implement these price increases in the next few weeks.
We need to consider the supply and demand of the materials needed to make that product. Copper and Silver are the first materials we usually think of when we try to rationalize these changes. They’re expensive and that hasn’t changed in decades. However, tin, nickel and steel are also a big problem as they have become more in demand. Steel is a necessity is our industry that just seems to keep rising. Steel is a tough product for which to find an alternative. Even if you are able to get it at a lower price you are often-compromising quality and getting a lower grade product. Not all galvanized (zinc added to the steel) steel is the same. A lower grade of galvanized steel, just means you will get to buy that product again, much sooner!
However, all the rationalizing in the world won’t change the fact that these increases are going to mean higher prices. You can get ahead of the pinch by lock in pricing by buying now. Ask for future delivery if your vendor can support it. (we do!) Our solution at Utility Supply Group is to place large orders with our manufacturers now before the tariffs go into effect so we can pass on the savings to our customers.
We often take this route at our fall trade shows to help our customers avoid the first quarter price hikes. Unfortunately, with the tariffs going into effect during the third quarter rather than the first many companies have chosen to included their yearly price increases with the new tariffs increases.
We realize this can often be difficult position to be in, but this is where we are today.
~ Wizard of Watts
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