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East Central Ia | Have a few friends in various industries, several handle raw steel.
One told me a few weeks ago that their price for raw materials is higher than their finished product cost was last year.
One told me they put an order in for steel, their supplier doubled their order and said take it or leave it.
Another one said they had prices negotiated and locked in for a three month period. A week later their supplier raised prices and said pay up or you won’t get any product.
What I think will be interesting when this is all said and done is customer loyalty to these suppliers is a burned bridge. When things settle down I think there will be hell to pay for some of these suppliers. | |
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Grain Bin inflation
