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News for the pavement industry.
Steel Pricing Still a Concern: AEM Survey
While every equipment manufacturer responding to a recent survey encountered significant increases in steel prices last year, fully 85% of manufacturers absorbed some or all of the increase instead of passing it along to buyers.
That's according to a survey conducted by the Association of Equipment Manufacturers (AEM), which represents the off-road equipment manufacturing industry, a major steel consumer.
The survey found that the median steel price increase in 2004 was 60%, with many manufacturers reporting increases of 100% or more.
Roughly 45% of those surveyed said they expect steel prices to increase again in 2005 while only 5% said they expect prices to drop.
"Our survey underscores the adverse impact of steel pricing on our members," said Dennis Slater, AEM president.
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