Over the last 8 months, aluminum ingot and aluminum products have risen in price every month. These price increases were because of the threat of tariffs, and now, because of the recent Steel (25%) and Aluminum (10%) tariffs enacted by President Trump prices have risen even more. As I type this, one of our aluminum suppliers has changed their pricing to PIE, or Price In Effect at the time of order; meaning their quotes are only good for that day. Since the tariffs were made effective, on April 6, 2018, aluminum ingot has risen more than $0.30 per pound, which is an unheard of price increase. In the long run these price increases are expected to abate, but in the short term know that products that contain aluminum or steel will be affected by these raw material increases. We are communicating this information so you can adjust your quotes and timelines accordingly.
Although prices have continued to increase, we have not seen a shortage in product so our lead-times have remained the same; however, there could be supply issues should these tariffs escalate to a trade war. Again, we have, and will, continue to closely monitor inventories, lead times, and pricing in order to have product available at competitive pricing.
Aluminum Composite Material (ACM) is an extremely popular alternative to regular aluminum. The GSG Starbond product, along with, Multipanel and Omegabond are brands we carry that are considered aluminum composite sheets. The majority of these products, across all brands, are manufactured overseas, which means you will see an increase in costs on these sheets. GSG is announcing an increase of roughly 10% effective May 14, 2018.
We are also beginning to see price and lead-time fluctuations with real estate frames, corrugated stakes, paint cans, equipment, and many other products that GSG sells and graphic communication companies use every day. Please keep this pricing and availability volatility in mind as you do quotes for long-term projects. GSG does its best to provide a 30-day notice on price increases, but with this ever-changing market space, it is not always possible.