Previously I mentioned that three of the four seamless steel pipe mills that supply our inventory at work had suspended offering price quotes on new inquiries. Demand is simply too high for the supply of raw material, as the booming Chinese economy sucks up the lion’s share of the world’s metals.
Yesterday, one of the mills went back online, as it were. The new price structure is based on a price increase of 30 percent across the board.
This isn’t hitting the news yet, but it has to, soon. I wish I could offer advice on how to get ready.