Price Increase Survival Guide
The continually increasing cost of raw materials is a concern for sellers and consumers in the wire and cable industry. High prices are of immediate interest because, as they elevate, the price of wire and cable is directly affected. Based on the current trend, no market slowdown is within sight. Prices likely are to keep going up.
In recent years, the cost of several materials integral to the construction of wire and cable has been affected by rising costs. Copper and silver have been the focus of most of these increases, but tin, nickel and many insulation materials such as PTFE have seen increases due to higher demand and lower availability.
In an effort to help alleviate some of the stress these increases bring to your bottom line, here are a few tips to decrease the effect of price increases:
- Generic equals: Ask your salesperson if there's a generic equal to the part you are using. If you are currently buying a brand-name wire or cable product, switching to a product with similar characteristics minus the brand name will save you money. Our wire and cable "equals" are cost-efficient and reliable. Your salesperson will be able to recommend the most appropriate equal for you.
- Blanket purchase orders: To help alleviate the growing cost of wire and cable, customers may place blanket orders to lock in current prices. Knowing how much wire you will need in the near future and buying it now will help you save money down the line.
- Odd lengths: If a specific length is not an issue, you may be able to purchase smaller lengths from stock at a discounted price. Check out our online Bargain Bin to purchase through our website or speak with your salesperson. We have several different types of wire in stock at odd lengths such as hook-up wire, automotive wire and more. Allied Wire and Cable is continuously committed to providing the best customer experience possible. We understand that part of great customer service is providing the lowest prices available to our customers. Allied Wire and Cable is dedicated to helping you save money. Look to Allied Wire and Cable for continued price-increase updates.
Every month, we provide copper price updates via our Copper Prices page.