Skip to content
High steel prices push manufacturers to seek supplies

Manufacturers face the highest steel and aluminum prices in years, another hurdle for US companies already struggling to make enough cars, cans and other products.

The rapidly rising costs of metals are pushing manufacturers to take the steel they can get and hire more people to research available supplies, company executives said. The rising costs are being passed on to some consumer goods producers: Campbell Soup Co. pays more to get the cans it fills with tomato soup; Peloton Interactive Inc. sees prices increase for parts that go into its stationary bikes; and Steelcase Inc. pays more to make metal desks and filing cabinets. Automakers like Ford Motor Co. and General Motors Co. are also facing rising metal prices.