On January 9, 2017Marino\WARE announced a 10% price increase effective February 13, 2017. The full letter is below:
To: Our Valued Customers
Re: Price Increase Announcement-10% Effective February 13, 2017
Due to the rapidly increasing cost of steel, Marino\WARE will raise prices 10% on all products, effective February 13, 2017. Certain regions may be higher due to wholesale changes in how steel must now be sourced. Price pages will be distributed by early February, which will ultimately establish the effective prices for February 13.
The purchase price for steel plummeted precipitously from 8/1/16 until the eve of the presidential election. Since then, prices have fully recovered to their peak in July, and domestic steel mills announced another $40/ton just this week.
Marino\WARE will honor all quotations activated in accordance with the "quote activation policy" dated April 13, 2010, which can be found on our website, www.marinoware.com. We will also void any job quotes not activated with policy guidelines. In light of the recent market developments, we urge you to review the disposition of any open job quotations with your contractors.