In the early stages of the coronavirus (COVID-19) pandemic, LBM dealers had to quickly update their business operations to comply with social distancing recommendations and protect associates, customers, and partners. As the negative effects of the pandemic continued to influence businesses, several manufacturers, including Boise Cascade, Weyerhaeuser, Jeld-Wen, LP Building Solutions, and many others, were forced to temporarily curtail production.
While many companies were forced to temporarily curtail production, the LBM industry’s demand has remained strong in light of the pandemic. As a result of the curtailments, demand has outpaced production capacity, with dealers, including SRS Distribution, expecting these imbalances to remain until the winter months at the earliest. Product is already in such short supply that many manufacturers have already passed through net price increases in July, according to SRS Distribution.
Atlas Roofing Corporation announced a 5-7% increase in shingle and underlayment products, effective August 3, and TAMKO Building Products said it will increase residential roofing product prices 2-4%, effective July 24. Additionally, CertainTeed, GAF, IKO, and Owens Corning are all increasing prices between 4-6% on roofing products, effective August 17.
As a result of manufacturers’ price increases, SRS Distribution announced it will be increasing its prices on shipments made on or after August 15. The changes include a 6-10% increase on all shingles and a 10-15% increase on all fasteners and accessories.
“Thank you for your continued business support,” Jeremy Goldschmeding, executive vice president of the building products division at SRS Distribution, wrote in a public letter to customers. “We look forward to continuing as your supplier partner of choice, and remain committed to providing exceptional service.”
