As we continue to move forward and through this worldwide pandemic, the impact on the supply chain is being felt everywhere. Including here at home with the rising costs of plumbing supplies.
Orders placed for supply are not only more expensive than they've been in the past, but they can be slow to arrive, stalling jobs that are mid-progress. In some situations, a needed part can be completely out of stock, forcing contractors to travel from dealer to dealer in hopes they can continue their project.
According to the Independent Pipe and Supply Corporation, hot-rolled coil prices have increased by about 80% in the last eight months, copper has climbed by 75%, and steel pipe costs have soared by 138 percent.
It is no secret that the price of copper has been on the rise for some time now. Copper is a critical component in many plumbing supplies, so when its cost goes up, it causes the overall cost of these supplies to go up as well.
The cost of copper is currently $4.320 per pound. Though, in 2006 it was $1.45/lb and in 1998 it was $0.76/lb!
Unfortunately, there doesn't appear to be an end in sight for this trend and the pandemic did nothing to slow the progression.
This is certainly not good news for those of us needing to purchase plumbing supplies in the near future. Thankfully, there are some ways to help offset these costs.
One way to keep your costs down is to shop around for the best prices. Compare what different stores are charging for the same items. You may be able to find a better deal online or at a store that is not as popular.
Another option is to consider purchasing used or recycled supplies. While they may not be as nice as new.
One option is to look for suppliers that are offering discounts on bulk orders. You may also be able to find deals on copper and other plumbing supplies through online marketplaces.
Whatever you do, don't wait until the last minute to purchase what you need. The prices are only going to go up from here!