Taking another look

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LOOK's president, Matt Arnold, said the company has seen steel prices increase 25 percent and aluminum as high as 35 percent. He told CNBC that he's afraid his suppliers' prices have even further to run in the months ahead. Although the company already uses 75 percent U.S. steel and aluminum, now its competitors are also moving from foreign to domestic steel. That's driving up the demand for steel producers domestically and adding costs to businesses' bottom lines. Arnold said that the company has managed to honor fixed prices on committed orders, but that means they've been "getting hit and absorbing price increases and then pricing out three months."
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