Unistrut Pricing
On 6/3/2021 Unistrut Announced Their 7th Price Increase of the Year
For any customers who have been active on our website this year and keeping track of pricing, you will have noticed some recent increases. We held off for as long as we could, using inventory that was in stock and that we purchased at lower prices to fill orders, but it has been a busy year and we've sold through all of our inventory. Unfortunately, replenishing that inventory comes at a much higher cost now.
In an effort to be transparent, we are sharing information from our supplier to help you understand why these increases have been put into effect. Unistrut's parent company, Atkore International, has just announced it's 7th - significant - price increase of the year. There has been an increase every month so far, and July's scheduled increase has just been released to distributors.
"Effective July 5, 2021, channel and fittings prices will increase by an additional 20 - 30%. Specific customer pricing will be shared in the coming days. This increase is in addition to all previously announced increases." ~ Steve Elsdon | VP & General Manager, Metal Framing | President, Unistrut Construction | Atkore
The Effect of Covid-19 Supply Chain Disruptions
These increases are due to supply chain distruptions caused by the Covid-19 pandemic, which have further led to:
- Soaring Steel Prices
- Material Shortages
- Rising Fuel Prices
- Labor Shortages
Furthermore, these increases are expected to continue through the end of the year. It is unclear at this time when pricing will level out.
What Should You Do?
If you know you will have need of Unistrut products in the coming months, we advise that you purchase them as soon as you can, before more pricing increases take effect.
As another side effect of the pandemic, we have had to decrease the amount of time that our quotes are effective for. We used to hold quoted pricing for a full month but are now down to five days or less before meaterial will need to be requoted.
Hot Rolled Steel Has Increased Over 3.5x in Less Than 1 Year
To help illustrate the drastic changes the industry is facing, we have provided pricing information in the below table. Please note that increases to our pricing levels have lagged steel cost increases over this period. As an indicator, hot rolled steel costs are now nearly 3.5X where they were in August of 2020. Further, steel costs are expected to continue to rise and will likely stay at these high levels through the summer and well into the fall.
We recognize how impactful these changes are on your business. We hope this transparency brings clarity to the general industry and ensures you can make educated decisions based on facts, during these unprecedented times.
Thank you for your continued business and support.
