Supply Chain Update 4/12/2021
The following information is from one of the largest wholesale fastener importers in North America. Please note THIS WILL NOT EFFECT YOUR CURRENT ACCOUNT WITH FASTENERS DIRECT we are simply keeping our customers informed as to what is happening from the production side.
Effective Monday 4-12-21, we will have raised pricing approximately 3-5% as a reflection of the increased costs we are seeing from overseas shipping and steel prices. Container spaces remain a serious issue affecting our company and our industry. Available space is essentially being auctioned off in a spot market and we are having to pay 3-4x what we normally pay for ocean freight. Even still, we are only replacing 50-60% of what we are currently selling in tonnage each month. This equation needs to be rebalanced, and we are doing the best we can to do so. But doing so also comes at a heavy cost to our business.
Tiered pricing was changed.
Most product groups were affected with the exception of Domestic and Stainless categories.
Once again this does not effect the account for any of our current customers, the purpose of this message is to pass along information. Check back each week for further updates.