Businesses anticipate price hikes due to coronavirus
As more people choose to stay home or put plans on hold, the North Dakota economy will likely be impacted. Business owners are bracing for a hit.
The owners of Superior Steel Supply in Bismarck say they have a solid inventory...for now. However, they anticipate a change.
The owners say the price of their products was recently impacted greatly by the tariffs put on Chinese metals. They say that now, with the outbreak of the virus, they expect the same thing to happen.
"A lot of our supplies that we bring in come from China, like our staples and our nails and our synthetic underlayments for steel roofing. And so, as the coronavirus is getting bigger and bigger in China, it's slowing down factories, less people are showing up for work. It's just going to slow everything down," said Anton Roise, president of Superior Steel Supply.
As of now, they say their inventory hasn't been impacted because they haven't restocked.
However, if the goods become less available and prices go up, work will be more expensive for their clients as well.
Roise says if you need roofing or siding work done, to contact a professional now for the lowest prices.