Rising costs of materials

[SamsarandaParticipant @samsaranda]

Just received an email from Reeves and they say that one of their casting suppliers is quoting a 20% increase in prices from their foundry. The world seems to have gone mad with everything rocketing in price, I shoot clay pigeons on the weekends and there has been an upward trend in the price of cartridges for some time now and recently the price is taking off. The blame is put on the war, Covid etc but there is blatant profiteering going on, the bubble must burst some time. Dave W

[Ady1Participant @ady1]

China producing over one billion tons out of a 2 billion total tells me that shutting a coal mine in Yorkshire is going to have zero effect on climate pollution

We are squabbling over monkey farts compared to what's going on abroad

The main scrap cycle now seems to be india/asia to China scrap steel market and If you live somewhere like Bangladesh you can get huge amounts of ferrous/non-ferrous for peanuts

We've outsourced everything to overseas except the final-to-be-gouged-consumer

The capitalists would surely never do that to us would they??

Edited By Ady1 on 12/04/2022 17:22:40

[SillyOldDufferModerator @sillyoldduffer]

Posted by Hopper on 10/04/2022 11:28:59:

Steel prices were rising before Ukraine got messy. They blamed it on Covid, then on l … Long story short: price gouging. …

Who are 'they'?

There's a simpler explanation. How do you decide who gets the goods when a rich Kiwi and a rich Aussie both want to buy a ton of steel off a poor Chinaman, and he only has one ton to sell? And all your other suppliers are stock-out as well. The usual answer is to hold an auction, highest bidder wins. Basic law of supply and demand: prices rise during a shortage and fall during a surplus. It's why Gold costs £1500 per ounce and sand is cheap.

Not the same as Price Gouging, which occurs when a supplier takes advantage of a temporary problem such as an earthquake or COVID panicked Aussies buying every toilet roll south of the equator.

Even worse, some economists argue Price Gouging is a good thing because it sorts out priorities, stuff ending up only with people who really need it. Don't believe it myself: when Covid kicked off in the UK, too many shelves were emptied by selfish well-off folk filling their Range Rovers with Pasta, Bog Rolls, Eggs, Milk and Baked Beans. Single mothers with a nasty cough and 5 kids to support could go to hell…

[Tony Pratt 1Participant @tonypratt1]

Posted by SillyOldDuffer on 12/04/2022 17:37:09:

Posted by Hopper on 10/04/2022 11:28:59:

Steel prices were rising before Ukraine got messy. They blamed it on Covid, then on l … Long story short: price gouging. …

Even worse, some economists argue Price Gouging is a good thing because it sorts out priorities, stuff ending up only with people who really need it. Don't believe it myself: when Covid kicked off in the UK, too many shelves were emptied by selfish well-off folk filling their Range Rovers with Pasta, Bog Rolls, Eggs, Milk and Baked Beans. Single mothers with a nasty cough and 5 kids to support could go to hell…

It's been proven many times that 'economists' know bu**er all about anything especially the 'economy'.

Tony

[Author]

Posts