John Wolz

Fastener price increases in the past three months are startling even those who have been calling for higher prices.
And suppliers predict prices � which have gone up more than 30% � will continue to climb.
One importer reported paying 28.2% more for 1/2� x 1 1/4� zinc hex bolts this month compared with July 2003.
A 3/4� x 7� inch bolt used in strong ties for construction has risen 41.7% from October to February.
�Prices are changing on a daily basis,� Barry Porteous of Porteous Fastener Co. reported. �I think it could be another 30%.�
�We think prices are continuing up,� importer Ron Sackheim of XL Screw predicted. �Until the supply increases or demand gets weak, we don�t know where this is going to stop.�
Steel prices are the first cause mentioned for the price increases. Asian wire rod prices have risen at least 36.2% in the past year.
Rob Harris, managing director of the Industrial Fasteners Institute, emphasized that the North American manufacturers organization avoids price discussions because of anti-trust rules, but described the situation as �starting to go critical.�
�I�m sure with what�s happening in the global steel market, prices should be increasing to just cover that added cost. However, in some markets the buyers are refusing to recognize or accept any increases at all.�
One supplier said even North American manufacturers are �booked up� and adding surcharges. They are having to pay as much as $500 per ton for steel on the spot market.
Darling cited the example of low carbon wire rod prices from last October. Wire rod in China was selling at $348 per ton. By early February that price rose to $474 and �it has moved higher already.�
Porteous said end users are generally accepting fastener price increases �Any OEM who is buying steel components already knows what is happening,� Porteous explained. �FastenerNews.com