CNH 5% Fee Hike Due To Steel Prices

CNH Global said in response to sharp and sustained increases in their costs for steel, energy, commodities, and transportation, it will implement an approximate 5% across-the-board surcharge on the base price of all whole goods orders, including attachments and options of its Case IH Agriculture, New Holland Agriculture, Steyr, Case Construction, and New Holland Construction products, Ag Professional reports.

Steel prices have soared 40% to 50% so far this year, and may rise even higher as raw material costs continue to climb and global demand for steel and other commodities shows little signs of abating.