P.I.E. stands for Price In Effect. As many of you are finding out, when you go to purchase material you are getting quotes that say PIE. If material is not in inventory, many wire distributors, like Western Steel & Wire, are quoting the existing price of material and the lead time when replacement material will arrive, but putting the caveat, P.I.E. Because the wire and the transportation markets are so volatile right now, most wire mills will not provide pricing to the distributors until the time the material actually ships or the “price in effect” at the time of shipping.
There are a lot of causes for having to indicate, P.I.E., most recently the Russian – Ukrainian war. Click on the following blog for more detail: https://allentimmons.com/2022/03/17/russian-oil-ban-impact-on-availability-market-fuel-prices/
In addition, we are still climbing out of the Covid 19 pandemic where man power shortages were everywhere, from mining to steelmaking to wire drawing to distribution and all the transportation modes throughout the supply chain. The lack of human resources to do their jobs, caused the supply chain pipeline to run dry.
So what do you do if you are quoting jobs and you are getting wire prices with P.I.E.? My advice is to quote the work and notify your customer of the P.I.E. Most customers are knowledgeable about the current economy and will understand.