According to gensteel.com, the website for General Steel Buildings, steel has seen its value decrease over the past few years. This has been because supply has been higher than demand. This has been a good thing for consumers as the cost of steel buildings as been lower than in the past. The steel industry has been in decline, but many experts are predicting that 2015 was the low point of pricing and that 2016 will see a rebound in pricing. Both worldsteel.org and knoema.com predict steel demand rising 1.4% in 2016 with forecasts showing strong upward pricing pressures through 2019 in global steel commodity prices.
Steel prices are rising in 2016. US Mill capacity is tightening, while iron ore, scrap, and other raw material costs are also increasing. Suppliers are talking about increases continuing through the second quarter and perhaps even into the third quarter of 2016. This will cause manufacturers, including sprinkler pipe manufacturers to increase pricing.
So what does this mean to you? If you are a property manager, building owner or end-use that has outgrown your storage capacity and now in the process of budgeting to expand your existing building, VFS can help you maximize your current square footage by storing higher rather than going wider. VFS design experts will upgrade your existing fire sprinkler system to increase your storage height and store higher commodities, without costly construction buildouts.
The main thing to know is that partnering with VFS for your fire and life safety needs will help mitigate the effects of these price increases on your business. At VFS, our expert design team will design the right system to minimize pipe size while maximizing your fire sprinkler system for your unique needs. With a highly efficient fire protection system with minimized pipe size, your costs will stay low – even with steel prices increasing.
The bottom line is that VFS has the expertise to help you keep your costs low – even when steel pricing is on the rise. Contact VFS today to find out more about how we can help!