What’s Up with the Price of Steel?

The cost of steel has tripled! This has been a blessing for the mills in the U.S. that had just recently been suffering. Some have been hiring and even running additional shifts to keep up with the growing demands.

Steelworks 62 – Ben Cooper – 2010
Licensed under CC

 

 

 

 

 

 

 

 

Profits are up as the price and demand for the products continue to grow – but there is a downside to all of this …

 

www.lemonloco.com

 

 

 

 

 

 

 

 

 

New fabrication and repair costs have skyrocketed. Metal quotes that our vendors once held valid for up to 30 days, are now only good until the end of the day! This makes submitting a large quote that will have to go for budgeting and long-term planning difficult for many companies.

updated angle based handrail

 

 

 

 

 

 

 

 

Jobs that we had routinely run for clients, have to be re-quoted and adjusted – upward. Some clients are putting off the work while others are trying to find inventive ways to keep the costs down. At times running equipment that should have been repaired or replaced.

 

original housing

 

 

 

 

 

 

 

The analysts see this current price jump as a bubble and believe it will continue for a short time and then drop drastically. How it will affect the mills who have been riding on the higher profits is hard to say. It’s too early to tell.

 

Steelworks 68 – Ben Cooper – 2010
Licensed under CC

 

 

 

 

 

 

 

 

But fabricators and repair facilities are hoping for a stabilization so we can help our clients get over the sticker shock they are now facing and prepare for these large capitol upgrades, outages and major repairs.

 

Malecon Sunset –  Mark McNestry
licensed under CC

 

 

 

 

 

 

 

 

 

 

 

 


Riggs Machine & Fabricating – Serving industry in KY, OH and WV for over 45 years!

Essential Business Status

On March 23 Gov. Andy Beshear ordered all nonessential retail businesses to be closed. Some critical businesses are exempt from these guidelines.

Riggs Machine is considered an Essential Business aligned with the Critical Manufacturing Sector servicing many industries including:

  • Energy
  • Chemical
  • Transportation
  • Water and Wastewater Systems

We will be operating and available as you have come to expect.

As always the health and safety of our employees and families remain our number one concern and we will continue to follow all applicable CDC guidelines.

Feel free to contact us at 606-324-009 if you have any questions about our operating hours or new safety protocols during this unprecedented time.

 


Riggs Machine & Fabricating – Serving industry in KY, OH and WV for over 45 years!

Coronavirus (COVID-19) Statement

March 20, 2020

As the world faces a truly unprecedented situation, Riggs Machine & Fabricating is taking proactive steps to ensure the health and safety of our valued employees, customers and community. We continue to closely monitor the latest reports and recommendations from the Centers of Disease Control (CDC) in response to the COVID-19 pandemic.

The health and safety of our employees and customers are our top priority. Riggs Machine & Fabricating has implemented practices to assist in protecting our employees and community.

  • Employees have been updated on preventative practices and preparedness plans recommended by the CDC. We have requested employees follow these guidelines for proper personal safety.
  • We are following the government’s direction to practice social distancing.
  • Employees are asked to stay home if they feel ill.
  • Hand sanitizer and disinfectants are being provided throughout our work areas.
  • Comprehensive cleaning and sanitizing protocols are in place for our facilities, including high traffic areas being frequently disinfected and cleaned.
  • Customer and supplier visits on-site to Riggs Machine & Fabricating are limited. Drivers picking up material or making delivers have limited access into our facilities and exposure to our employees.

We remain committed and confident that during these tough times, we can continue to deliver the quality, dependable service to our customers across our community in a timely, efficient, and safe manner.

Thank you for your partnership and should you have questions, please do not hesitate to contact us at 606-324-0090.

Sincerely,

Bert Riggs, President

 


Riggs Machine & Fabricating – Serving industry in KY, OH and WV for over 45 years!