Market Snap Shot
By Mark Thomas
Supply chain issues are getting worse, not better. Americans reliance on Just-In-Time products has caused more issue at the ports which, in turn, is driving inflation causing container prices to boom! Fasteners are a low-dollar product no matter which way you put it. It’s hard to bring product over and not put a 30 percent markup based on up-front shipping costs. However, companies that have product are willing to pay 30K for containers are usually importing product like TV’s because they can distribute high cost on high cost fabricated items. Also, longshoremen are making $40.00 per hour at the ports yet they are only working 8 hours a day and will not work an hour more until their boss Joe Biden tells them to do so.
There you have it: demand is up and we cannot get product into the country fast enough. Additionally, there is a new American mantra out there: “Give me more free money.” Statistically, for every dollar of lost earnings during Covid-19, the Feds gave the U.S. 3.5 dollars. We are now at the greatest risk for inflation in 50 Years. This is going to be a rocky ride the next 2 years so lets hold on and ride the wave. We commit here at Centennial Bolt to provide the best service and get you your product as fast as possible.