What in the World is Happening?
Worth prides itself on sourcing the highest quality materials and we keep in close contact with our suppliers to get the best material prices possible. Your satisfaction is very important to us and we hope we have been successful in providing excellent customer service and products. We regret that rapidly rising costs for brass, necessitates an increase in the price of all brass items, by four percent, as of February 19th, 2018. This increase will be reflected in the ‘price per thousand’ for all lure components consisting of brass material. This will be a simple way to recognize the exact cost upfront, rather than having to calculate price with an added surcharge for affected items. We have made every attempt to avoid this increase, but we refuse to compromise quality.
There are many underlying variables that affect the cost of brass material. Because brass makes up 80% of our pricing, we want to take this opportunity to explain how brass is made and how it can impact brass lure component pricing. Brass is made up of approximately 70% copper and 30% zinc. Copper and zinc are then combined with other materials and fabricated into brass material.
Worldwide, copper consumption exceeded supply in 2017 and is expected to do so again in 2018. A primary contributing factor for the world copper supply shortage and increasing prices continues to be China, where industrial and urbanization continue to grow and account for roughly half of the world’s copper consumption. Wall Street Journal reports, “Some investors have said that robust U.S. consumption for infrastructure following recent natural disasters and hopes that an infrastructure spending bill will pass relatively soon are also buying copper.”
The cost of copper has increased by 22% since July 2017, when prices were last set. To put this in perspective, copper prices increased 27% through 2017.
Worth makes every attempt to maintain competitive pricing. When an increase in material cost occurs, margins reduce to a level where a price adjustment is necessary in order to continue to provide you with the highest quality you have come to expect. We appreciate your understanding and look forward to continue upholding our commitment to supply superior lure
Any questions or comments, please contact us at 800-944-1899 or mailto:email@example.com .