Globe Pipe Hanger Products Price Announcement
May 11, 2022
Dear Valued Customers,
The increasing cost of Stainless Steel has outpaced many other steels in the commodity steel market. Globe Pipe Hanger Products will be implementing a 20% price increase across our entire product line of Stainless Steel hangers and pipe supports – domestic and imports. In addition, the continued increases in ocean cargo rates will drive an average 10% increase on imports. Imports represent a relatively small portion of Globe’s product line. As the products that you use the most are domestically made right here in Cleveland, OH USA.
Additionally, there are a few specific items that have been impacted by the steel market and their prices will also be adjusted accordingly. All these changes will be effective with shipments starting 6/6/2022. These adjustments will supersede all prior price lists and quotes.
As mentioned in Globe’s Steel Market Update, the movement of steel raw materials continues to be quite dynamic. While we have seen many steels continue their unprecedented rise in cost, we have recently seen some prices tick down ever so slightly. Because steel is still quoted “subject to price at the time of shipment” Globe Pipe Hanger Products will closely monitor this movement, and if it holds, we will pass along the appropriate savings.
Finally, also effective with shipments starting 6/6/2022, due to rising costs of logistics and transportation Globe’s Full Freight Allowed amount will be $2,500.00 USD per qualified shipment, and our minimum order value amount will be $150.00 USD, with product purchases in full cartons only. Globe may make additional adjustments as needed, including prior to the effective date above.
Please contact your Globe Sales Representative or Globe Customer Service with any questions. Thank you for your understanding and your continued support. Best wishes for a prosperous summer and second half of the year.
GLOBE PIPE HANGER PRODUCTS, INC.
Vice President Sales & Marketing