2021 had been extra tumultuous for the manufacturing industry. Metal prices have been rising, partly because of a rapid recovery in consumer spending and manufacturing following last year’s lockdowns as well as a constrained supply in the availability of metals.
Further pressure has come from global logistics constraints and cost increases. As a result, shipping routes have seen delays, container shortages, and a near tripling of freight rates over the last 12 months. Such logistics delays and the corresponding hikes in rates are things that need to be addressed.
In 2019, before the COVID crisis, the metal industry was already facing difficulties with tariff struggles and early signs of a demand slowdown. An unexpected global pandemic did nothing to help. Considering how dependent our society is on metal-from aluminum cans to office supplies or appliances to buildings – the pandemic disrupted, along with our daily lives, every aspect of the metal industry, from manufacturing to distribution to finished products.
From rising energy costs to unexpected fluctuations in raw metal prices, unforeseen obstacles destabilized supply chains, making it difficult for manufacturers to maintain business as usual. With supplies of many raw materials becoming harder to secure, commodity price volatility skyrocketed, and manufacturers had to absorb additional costs, find new ways to mitigate the expenses, or pass price increases along to customers who are already reluctant to spend.
To help organizations select the best Metal Manufacturing Solution Providers, we present to you Manufacturing Technology Insights’ “Top 10 Metal Manufacturing Solution Providers - 2021.”
