Shortage of Steel Affecting Manufacturers

The Wall Street Journal (subscription) reported this week on surging steel prices. Prices for hot-rolled sheet steel have doubled since August to a two-year high of $900 a ton as reduced availability has “touched off panic-buying by some manufacturers,” the article said. Lead times to fill orders have increased to 10 weeks, while “waits for coated steel and other varieties needing more processing are as long as three months.”

Meanwhile, beverage manufacturers continue to struggle with aluminum can supplies. 12/16/2020