On April 18, 2016 Marino\WARE announced a 15% price increase effective May 27, 2016. The full letter is below:
To: Our Valued Customers
Re: Price Increase Announcement-15% Effective May 27, 2016
Due to the rapidity of successive mill increase announcements, Marino\WARE will raise prices 15% on all metal framing and plastering steel components, effectibe May 27, 2016.
Steel supply has grown tighter as demand is increasing while domestic mills work to normalize production levels, following a drop in imports. At the same time, commodity prices are rebounding from near all-time lows, adding cost pressures. Base metal prices are rising sharply, and there is no way to determine at what point it may settle or reverse course.
Marino\WARE will honor all quotations which have been activated in accordance with the "quote activation polic," which went into effect on April 12, 2010, and can be found on our website, www.marinoware.com. We will also void any job quotes not activated within policy guidelines. In light of the recent market developments, we urge you to review any open job commitments.