Metal Forming Companies Challenged to Find Raw Materials and WorkersJune 17, 2021
Metal forming companies continue to predict challenging business conditions during the next three months, according to the June 2021 Precision Metalforming Association (PMA) Business Conditions Report. PMA’s June report shows that 36 percent of metal forming companies forecast an improvement in economic activity in the next three months (compared to 41 percent in May), and 12 percent anticipate a decline in activity (increasing from 10 percent in May). Sixty-six percent of respondents report an increase in lead times, down slightly from 71 percent in May—the first decline reported in eight months.
“Obtaining raw materials and finding workers are the biggest challenges reported by PMA members,” says PMA President David Klotz. “Members report lead times extending into 2022 for steel, with similar challenges for aluminum, copper, brass and other metal alloys. The semiconductor shortage that has idled some automotive plants also is negatively impacting orders.
“PMA, through its One Voice advocacy team in Washington, D.C.,” Klotz adds, “continues to engage policymakers and members of Congress to find ways to increase supply, including ending the damaging and unnecessary Section 232 steel and aluminum tariffs, and to help the industry recruit workers by promoting awareness and training.”
See also: Precision Metalforming Association