Fastener Prices Jump 18% in 2004

John Wolz

More than 92% of respondents got an average price increase of 18.2% in 2004, as companies countered steel hikes and other raw material cost increases. No company reported price cuts.

Over the next six months 70% intend to raise prices, while less than 4% anticipate price reductions, and less than 6% plan to keep prices unchanged.

Only 62% of manufacturers plan to boost prices an average of 8.3% in the next six months, while more than 75% of distributors plan hikes of an average of 9.1%. About 6% of manufacturers say they will trim prices in the coming six months, while only 1.3% of distributors plan cuts and less than 3% of distributors anticipate no price changes.

The average price gain in the first half of 2005 is predicted to be about 9%, while the average price cut is pegged at 6.7%. \ �2005 FastenerNews.com