- State of the Steel Industry in America – 2021 Market Update and What Triple-A Steel Structures Has Been Doing
February, 18 2021
State of the Steel Industry in America – 2021 Market Update and What Triple-A Steel Structures Has Been Doing
In terms of business and economic development, the year 2020 was chaotic. When entering the year 2020, Triple-A Steel Structures had goals and aspirations to achieve in the new year. There were massive plans to scale up lead times and improve already excellent service. Then the pandemic happened.
Before the coronavirus was declared a worldwide pandemic, Triple-A Steel Structures has already analyzed the situation and a stable action plan. However, nobody could foresee a year-long quarantine and isolation period. The pandemic affected social and physical interactions and harmed American businesses and economic activities.
The steel industry in America and the world steel market, in particular, took a nasty hit — due to the pandemic and government-enforced lockdown of non-essential services. However, since the beginning of 2021, the world economy and the American steel industry has been on the mend, it is a slow process, but we’re getting there. Never doubt, Triple-A Steel Structures is still well-poised to take your orders and deliver quality steel products to your doorstep.
A Closer Look at the American Steel Industry
It is an uncertain time in the steel industry. The pandemic has revealed just how vulnerable individual businesses are to rapid fluctuations in market prices. At the beginning of the pandemic, the Covid19 restrictions virtually stopped economic and business operations. The consequence of this was a drastic fall in demand for steel products and a corresponding fall in steel products’ price — as the law of demand and supply dictates.
This development turned out to be favorable to customers and the steel industry. In the long run, lower prices – and a rise in the price of other construction materials – caused an increase in demand for steel products. Furthermore, in a few weeks, demand for steel products outstripped the available supply. That subsequently caused a corresponding rise in steel prices.
It should be understood that the steel industry is not the only industry that the pandemic affects. Indeed the entire construction industry and several other industries have been regarded as “non–essential” by the government and were hit hard by Covid19 restrictions. The status of the economics projects a realistic view of the current debacle. Despite this, the steel industry — like a phoenix from its ashes – has maintained its steady rise from the depression of 2020. Nevertheless, there remains a key issue that needs to be solved.
Another issue that is bedeviling the American steel industry is late delivery or increasing lead times. If you’re angry or think the wait for your metal building is too long, Triple-A Steel Structures asks that you bear with us. It is an industry-wide problem. Even though Triple-A Steel Structures has the best and most efficient supply routes in the country, coronavirus restrictions are causing holdup in the manufacturing and delivery of your goods. Steel building companies utilize few men to satisfy nationwide orders to keep to Covid19 social distancing regulations. If you think of canceling your order or are frustrated about the increasing lead times, know that this problem is peculiar to every business in the industry.
Here are the key takeaways of this section:
- Steel pricing has increased after reaching an all-time low in the previous year.
- Lead times are backed up/increasing daily mainly due to Covid19 restrictions.
- Steel components are in a shortage leading to a lower supply of steel products.
- Steel producing facilities were shut down with little to no production.
- Construction supplies (wood prices) increased, thus driving up steel demand.
- Supplies are low, & demand is high for steel/other construction materials.
The Road is Smooth Ahead – Triple-A Steel Structures Has You Covered
Tough times it may be, but don’t worry, you continue putting your trust in Triple-A Steel Structures. There’s no denying that the industry has taken a hit, but at Triple-A Steel Structures, it was no more than a temporary setback. Triple-A Steel Structures has already put in place protocols and plans to ensure thesmooth running of steel building service – it is business as usual.
You also don’t have to worry about the rising price of steel products, Triple-A Steel Structures assures you that there are already measures to ease the financial burden. Your comfort and satisfaction is a priority. So don’t hesitate to bring your orders for quality and custom metal building projects. You won’t be disappointed.
Why is Triple-A Steel Structures doing this?
Triple-A Steel Structures is a leader and major stakeholder in the metal building industry. The company has amassed over 35 years of experience and boasts of extremely competent metal building specialists. That has made them incredibly adaptable to whatever situation they find themselves in. Indeed,
Triple-A Steel Structures always stays ahead of the curve, and their numerous partnerships have helped them maintain a level of efficiency that no other metal building company has in the industry. So when Triple-A Steel Structures tells you that they’ve got you, their word is good as gold. Let nothing stop you from getting the best you deserve — Triple-A Steel Structures knows steel, trust them to deliver the best!
Triple-A Steel Structures Always Delivers
Over the years, Triple-A Steel Structures has built a sterling reputation for itself, and that reputation comes from the years of gaining customer’s trust and confidence. If you need any metal building, Triple-A Steel Structures is the company for you.
There’s an understanding that the current price of steel components has made custom steel building very expensive, but you need not worry about that. Triple-A Steel Structures prioritizes relationships more than any other thing. The company has a variety of financial options to lighten your financial burden. With the increasing price of steel, it’s natural to shop around and look for ways to get your building cheaper. However, it would help if you always went for quality over quantity; remember that buying a metal building is an investment that yields returns for you as long as it stands. However, installing a metal building with sub-standard steel materials puts the building and its contents (your entire investment) at risk.
As the market tries to recover its best times, Triple-A Steel Structures as an industry leader, will update you on various issues and developments that concern you. You may also get tired of the increasing lead times, but remember that this is a nationwide problem. Triple-A Steel Structures still has the shortest lead time in the industry, thanks to its numerous partners and connections. Indeed you can’t be in better hands.
No matter what your situation, your project, your budget, or your complaints are, you can trust Triple-A Steel Structures as a customer-friendly company to stand with you. Order today from Triple-A Steel Structures at a lesser lead time than any other steel building company. Triple-A Steel Structures guarantees that you’ll get your steel building delivered and installed. To get to know more about how Triple-A Steel Structures handles customer inquiries and requests, call a customer service representative today at (888) 511-0899.