By the end of 2018, the US steel plate market remained stable as domestic prices have hovered between $960 and $1,000 per steel plate in several months. This means that the local steel plate market is matching just about the same supply to buyer demand. The absence of fluctuation is a good sign that the coming months, the first quarter of 2019 up until mid-year, are a good time to get steel plate locally, especially from trustworthy suppliers such as Wasatch Steel. However, before comparing suppliers and making orders, it is fitting to look into some pertinent buying considerations.
Know How Much You Need
Determining the amount of steel plate is, of course, fundamental. However, since steel products are bought in bulk, it is not always very easy to measure up how much is too much and how much is too less. The best thing you can do is to base your need on size and weight. After knowing the required grades, you must be prepared to offer the right size and weight to suppliers before a quote. Steel plates are bought by thickness x weight x length. Minimum thickness ranges from 0.1875 to 0.24 inches, while width and length may be around 8 feet and 12 to 20 feet respectively. Just do the math, and you will get the right amount your business will need.
Know the Time Frame
Suppliers work around different prices and quantity week in and week out, so be definite with when you would need your order. Operating in a finite inventory, suppliers make sure that they choose the closest warehouse from your location. The closer you are to a warehouse, the faster it is delivered, and the cheaper it is for them to transport your order. Another thing to consider is that suppliers may choose to get the plates directly from the mill if you order requirements list plates that are rare, uncommon, or coming from overseas. Work around the supplier’s schedule to obtain the best price and delivery time. A tip when ordering: Ask first if the plates are in inventory or where it is closest from to minimize costs.
Know Whom You Partner With
When it comes to ordering products that are of high value and in bulk, it is advisable to partner with someone you can trust in the long run. This supplier might as well be your long-term partner or at least a reliable source when your steel plate needs arise. To evaluate suppliers, you must search for an ISO 9001 certification for quality management, an internal quality management protocol, years of business, good reputation from mills, the number of customers, their location, and an existing purchasing unit. Quality management, experience, and reputation are standard requirements. The number of customers speaks of reliability. Location affects transport considerations. Also, the presence of a purchasing unit means expertise in sourcing the best grades of steel.
Steel plates are bought in huge amounts that all major logistical demands must be afforded. Price is, of course, a key element of the order. Still, the right quantity, time frame, and supplier must all be evaluated to guarantee a cost-effective and problem-free delivery of your steel plates.