This year has proven to be no less challenging than 2020 for businesses and customers alike. Supply chain disruptions across the globe continue to rile the manufacturing and transportation of goods in every industry. These disruptions have caused record backorders on everything from children's toys to appliances to woodworking and metalworking machinery. There is no industry untouched by these disruptions.
The unprecedented demand for goods, coupled with the restricted supply chain over the last fifteen months has not only impacted supply speed, but now rapid increases in raw material costs and transportation expenses are causing financial impacts in every aspect of business. The price of steel is up over 30%, copper 35% and the cost of shipping has quadrupled; just about every other cost for producing and moving goods continues to rise with no signs of slowing.
CKB Products has absorbed these cost increases on most goods for as long as possible, but we can no longer hold off on increasing our prices. In some cases, these increases are significant, but I can assure you we have done everything in our power to minimize increases wherever possible before passing additional costs on to the customer.
We are committed to providing a product you can trust by supplying quality products at affordable prices with outstanding customer service. We will continue to work tirelessly to increase supply and minimize cost impacts wherever we can.
Thank you for your business and ongoing support.