Steel Market

Current Steel Prices - Measures by WIKUS

The steel market situation, which has arisen primarily as a result of the Corona pandemic, is currently affecting almost all sectors of the economy. Companies, manufacturers, and suppliers in the mechanical engineering sector that are directly dependent on steel are particularly affected.

We are still experiencing supply bottlenecks and have had to deal with a massive price explosion (e.g. the prices for hot-rolled steel have almost tripled since January 2020).

Delivery capability through comprehensive measures

Through comprehensive measures, we have been able to maintain our delivery capability, thereby guaranteeing your productivity and keeping prices stable.

For example, we are continuously investing in productivity improvements to ensure price stability. We are also increasing our manufacturing capacity in order to ensure our delivery capability. We have also significantly increased the order quantities of crude steel and other raw materials. We must therefore bear the increased prices of raw materials here.

Next Steps

In recent months, WIKUS has been able to absorb a considerable part of the price increases and supply bottlenecks in the steel trade and keep prices stable despite far-reaching investments.
However, there is currently no end in sight to the steel crisis; analysts assume that the situation will not change at least until 2022. We are now unfortunately forced to pass on some of the costs to you in order to be able to maintain our delivery capability.

Variable Surcharge

Because of the situation described above, we reserve the right to charge a surcharge on future orders.
This serves exclusively to compensate for the massively increased raw material prices and will be adjusted as soon as the price situation on the world market stabilises.
In this context, transparency is quite important to us. That’s why we will review the prices in a fixed rotation, make appropriate changes, and pass them on to you.
(Basis: http://metals.mbi-infosource.de/stahl-nachrichten-preise-prognosen/)

 

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WIKUS Saw Technology, Corp
WIKUS Canada Ltd.
WIKUS Saw Technology (Shanghai) Co. Ltd
WIKUS India Pvt. Ltd.