Steel prices. Ugh Options

[mb911]

Been fighting this all year and it's getting worse. The stainless I use in my products is mostly out of stock until the end of the year. The prices have gotten out of control and it now costs me to sell anything I sell. I have filler metal on order that has been on order for 24 weeks now. I am going to be forced to raise prices but I am fearful that will be the end of my business as that will likely price most folks out of my products. I even considered doing a hybrid muffler with steel internals and I can't even get that. I am fortunate to have some inventory for quiet mufflers but my cheaper mufflers are likely a thing of the past. The quiet mufflers at current inflation rates will be over $1000 to even make 5%.

What is everyone else seeing? I hope to weather the storm but wow crazy times.

[pfreiburger]

Eighteen months ago, I was getting bids to put up a garage for my projects and thought I had everything pretty much lined up. Then covid hit and in just months the price went up by almost $18K – the $6 2x6 stud became $29, the $11 OSB was suddenly $64 and on and on. By this spring material prices were still sky high and waiting made sense, and then became mandatory, as the contractor that had agreed to build it was no longer available. And finding another contractor is not going too well – perfect!

In addition, this weekend I learned about the steel situation from a hoist vendor at the Iola show. He too expects major price increases due to material costs, but there is more. His cost of transportation is also through the roof – when he can get anything shipped at all. He has had a truckload sitting on the coast for months, with no ETA on when it will move. I am seriously considering buying one now if I can find storage.

What a mess.