Steel Prices and Welding

Steel Prices and Welding

At Sidney Lee Welding Supply, we like to stay positive, but sometimes it’s important to talk about some issues in the world of welding to be aware of.

2021 saw steel prices hit an all-time high caused by a global shortage of steel and by increased energy costs and demand. This situation impacts all industries that work with steel, such as metal roofing, automobiles, shipbuilding, trains, construction and infrastructure, metal products, mechanical and electrical equipment, and appliances to name a few.

By the end of 2021, it took several months to receive an order of steel, the delay caused by a huge global demand. The automotive industry was especially impacted by a shortage of car computer chips.

Other industries were limited in how much steel they could buy. Inflation and a greater demand for steel than was available resulted in higher prices. But by the end of 2021, steel prices seemed to stabilize at the higher rate. However, prices should remain stable for 2022, but may not be reduced even though the steel supply isn’t as limited as it was in 2021. It is forecasted that the price for steel will remain high, at least until the end of the second quarter when the supply issue should ease up.

In any event, you might consider buying the steel you need to save time and have peace of mind, so your next project will be completed on time. For any of your questions and for the best welding equipment that will get the job done right, contact Sidney Lee Welding Supply in Atlanta, GA.