Purchase order refused...

[Rebarcock.]

FYI my brother just had a Steel Mill refuse our order.
We will see how it goes.
They are not a primary more a keep everyone happy and buy a truckload from mill.
But all yall need to know. Inflation is here. Grab your balls and wallet. 1970 Jimmy Carter is back

 

[Rebarcock.]

It isnt bad for my business. It is bad for consumers. Make no mistake. Higher costs of goods is detrimental to all Americans.

 

[Rebarcock.]

We are sneaky slick.
If the increase on a per ton charge is dated 6.1 you throw a PO days later too see if the mill will hold a po in 6.3. Apparently they wont.
Niccas this s hit is science

 

[PawPower1981]

Explain this like I’m a 4 year old with boogers on my face. Why did they refuse your order?

 

[ChicagoFats]

I agree with you on the inflation. Asset prices on everything from Cars, boats, houses, stocks are out of control. Inflation is here and its not going away anytime soon.

 

[Zgdaf]

FYI my brother just had a Steel Mill refuse our order.
We will see how it goes.
They are not a primary more a keep everyone happy and buy a truckload from mill.
But all yall need to know. Inflation is here. Grab your balls and wallet. 1970 Jimmy Carter is back

Ironically Volcker had no buddies in the private sector giving him a gig after the fed stint was over, so he said f it and jacked up interest rates to 20%, economy be damned. It’s Ironic because that is why we’ve been able to lower interest rates to stimulate the economy when needed.
Today it’s the complete opposite and just flood the system with money.

Fyi, there’s going to be a dollar shortage in the next few years which is counter intuitive.

 

[Joe Kings]

Im Lost. Except on the inflation part. I get that. Everything else in here is hard to read. Especially following the OP. hope this was helpful OP

 

[imprimis]

It isnt bad for my business. It is bad for consumers. Make no mistake. Higher costs of goods is detrimental to all Americans.

You may appreciate this. Yesterday the electricity in my house went off for 4.5 hours. Sunny no storms in the area. The culprit was a full concrete truck tried to make a narrow turn, after being told he wouldn't make it, and flipped on its side into a ditch and knocked out a utility pole. Took 3 mega-wreckers to pull it out and flip it back on its tires. Only took electrical company 1/2 hour to turn juice back on but they had to wait for 4 hours to remove the truck. Don't know how they will get the spilled concrete out of the ditch. Some poor slob is going to have to chisel out the remaining concrete from inside the mixer.

 

[catreaper]

Explain this like I’m a 4 year old with boogers on my face. Why did they refuse your order?

That was a very confusing read but I know what OP is saying. Customers were trying to purchase steel against a quote from weeks or months ago that had old pricing. Since the price of steel has gone up (99% on carbon steel and 55% on stainless steel), mills and equipment suppliers are not honoring previous quotes and not accepting purchase orders against them. Instead, the normal 30 day validity period on quotes has shortened to a week to ten days.

 

[shiv]

That was a very confusing read but I know what OP is saying. Customers were trying to purchase steel against a quote from weeks or months ago that had old pricing. Since the price of steel has gone up (99% on carbon steel and 55% on stainless steel), mills and equipment suppliers are not honoring previous quotes and not accepting purchase orders against them. Instead, the normal 30 day validity period on quotes has shortened to a week to ten days.

Hot damn ole @catreaper has a decent economic brain

 

[Rebarcock.]

Explain this like I’m a 4 year old with boogers on my face. Why did they refuse your order?

Think allocation/rationing instead of grabbing of the shelf ready.
Since people want it now and supply is down and demand is there the costs go up.
Law of supply and demand shit

 

[Rebarcock.]

That was a very confusing read but I know what OP is saying. Customers were trying to purchase steel against a quote from weeks or months ago that had old pricing. Since the price of steel has gone up (99% on carbon steel and 55% on stainless steel), mills and equipment suppliers are not honoring previous quotes and not accepting purchase orders against them. Instead, the normal 30 day validity period on quotes has shortened to a week to ten days.

I was buzzed up it. Isnt worded exactly correct. We were trying to buy on our allocation that was within the proper time. They just refused to sell it.

 

[Srufiopunk28]

That was a very confusing read but I know what OP is saying. Customers were trying to purchase steel against a quote from weeks or months ago that had old pricing. Since the price of steel has gone up (99% on carbon steel and 55% on stainless steel), mills and equipment suppliers are not honoring previous quotes and not accepting purchase orders against them. Instead, the normal 30 day validity period on quotes has shortened to a week to ten days.

This. We are having to turn some business away because if we fulfilled the order we quoted a month ago, we would lose money on the order today. I imagine that every American Manufacturer is in the same exact boat right now. It seems to be less related to inflation and more related to the fact that our suppliers are still not producing at 2019 levels. Canada being so slow on the rebound is killing us too, as thats where a lot of our lumber comes from.