Shouldn’t be a whole lot of profit in an order you have to discount by 35%, and even less if you are delivering to someone likely to give you a bankruptcy notice rather than a payment. Not making a sale might not be worse than making the sale. Time to cut early and cut deep.
The entire supply chain was caught up in a “need it a fast as you can” buying spree due to the explosive growth in the US oil industry. Many were paying lots of overtime, premiums for fast delivery, etc.
At a slower pace, there is cost savings to be found. My business supplies engineering and design to oil/gas/petrochem. Our overtime is cut, we closed one office last week. Essentially everybody is cutting back to reduce cash flow.
Also, the slowing global economy is not just effect the price of oil. Copper, iron, lumber, etc are way down in price. So it is reasonable to expect reductions in prices of items made from these materials.