Economy
March 23, 2021
PMA Report Highlights Long Lead Times for Steel
Written by Sandy Williams
Lead times for steel and other materials continued to lengthen in March, said 60% of metalforming firms in the latest Precision Metalforming Association Business Conditions Report. Lead times have lengthened each month since September 2020 when 16% of PMA members reported longer lead times.
“Metalforming manufacturers are seeing an uptick in business, but their ability to meet the demands of their customers is threatened by severe and growing supply problems,” said PMA President David Klotz. “Lead times for steel, aluminum, copper, brass and other metals are steadily increasing, and prices continue to rise. PMA continues to call on the Biden administration to terminate the Section 232 steel and aluminum tariffs, which no longer are needed and are one of the main causes for chaos in the market.”
