Dear East Lake Metals Customers (and future Customers),
We blinked and the 1st month of 2021 is already past us. January was preceded by multiple storylines in the metals industry, where the trend certainly continues. To be concise let’s focus on our two main competencies, Galvalume and Aluminum.
As we know, construction has been challenged with material supply affecting all aspects. Generally speaking, while most mills were significantly under shipping due to the slowdown of orders, in the 2nd quarter (the early days of our global pandemic) people were still building, putting roofs on, and deciding they wanted to improve where they lived.
On the steel side during this time, several steel producers throughout the world shut down their blast furnaces in response. Some shut down because of the quick closing of auto manufacturing whereas others throughout the world were due to pandemic outbreaks. Throughout the fall we saw a clear upward swing in pricing, driving more demand as metal units to consumers were limited. More recently, sharp increases in Hot Rolled Steel have also propelled unprecedented increases in galvalume pricing.
Aluminum has a similar storyline with the added influence of anti-dumping trade cases brought against specific countries and foreign mills. The main result of this was to allow the US mills to significantly raise their fabrication costs to buyers, during a strong market demand period, similar to steel. Separately an increase in the LME (London Metal Exchange) aluminum pricing index has pushed aluminum delivery pricing even higher. To top off the disruption to aluminum pricing and availability, one of the major aluminum mills that provide products to building and construction markets had several setbacks with unfortunate fires at their facilities.
We supply both aluminum and steel. The tightness and higher pricing have challenged each substrate. Every company has dealt with the direct and indirect impacts of COVID. These next few months will continue the trend in upward metal pricing. Recently we were notified of a price increase from one of our coating suppliers. This will certainly be used by the other paint suppliers to raise their prices.
At East Lake Metals, we continue to support and supply our customers. Thankfully our supply is robust and continuing. We continue to see strong growth in PVDF painted products in steel and aluminum. Our customer-centric mentality drives us to serve our customers and work with them.
Please let us know if you need any metal! Did I mention we stock 24 and 26ga PVDF (Kynar) galvalume and did you know we stock 032, 040, 050, and 063 aluminum? Did you know we supply 080, 100, and 125 Mill finish, and did you know we excel at developing specific metal packages with customers?
Give us a call at (219) 655-5526, send us an email to email@example.com, we are here to serve you.