During the last year many manufacturers have experienced rising cost in the price of steel. Since last year the pace has accelerated with multiple increases from both foreign and domestic mills.
The recent section 232 investigation initiated by President Trump, which focuses on protecting our domestic steel industry for national security reasons, has been completed. The results of this investigations are being reviewed by the president and could lead to further restrictions on imported steel and additional rise in steel cost.
Additionally, the recent enforcement of electronic logs by the US Department of Transportation, along with increased fuel prices, has resulted in rising transportation costs, while the shortage of skilled and unskilled labor in this economy has impacted wages rates.
Due to the above circumstances HVAC manufacturers are implementing some significant price increases. Please see the below list for your reference.