UPDATED PRICES ON INSULATED PANELS IN OCTOBER 2021
THE REASONS THAT HAVE CONTRIBUTED TO THE PRICE INCREASE OF INSULATED METAL PANELS
- Steel sheet: needless to say, steel manufacturing concentration worldwide in the last decades has created impressive scale economies but created less competition on the market. With demand on the rise from most countries globally and a few bottlenecks, we expect neither steel price to go down nor its availability to increase. The price trend is upwards.
- PIR and PUR foam, like many other chemicals, come from oil, which price is increasing quickly. Let’s mention that the MDI component, which is necessary to make PUR and even more to make PIR, has been growing scarce since last April. All the above factors have joined an increased demand for thermal insulation that has saturated the production plants around the world. The price trend is upwards.
- Road shipping: disruption often happens due to the increased demand and the low availability of trucks because the Covid-19 pandemics forced companies to reduce their fleet size in 2020.
- Marine shipping: we all know that the last six months have seen significant disruption in the world’s ports that caused shipping prices to grow 15-folds. Forecasts are dire, as container demand is still soaring, and it seems that the situation will last until mid-2022, analysts say.
WHAT ARE OUR SUGGESTIONS FOR RETAILERS AND CONTRACTORS LOOKING FOR GOOD DEALS RIGHT NOW?
Second, remember that we have just entered the last quarter of 2021, and corporations are willing to spend their budget and finish their projects, so we expect demand to peak in the next 60 days. Be prepared.