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Steel Prices
- Thread starter Walt2
- Start date
- Joined
- Apr 14, 2006
- Messages
- 3,816
Do not hold your breath.. In fact you may want an O2 tank to take you were it will be going. Just wait until the Asian market corners the steel and other metals. For scrap I am paying 2x what I used to pay for new SS and about what I used to pay for mild 2-3 years ago.
Bill Siegle
Knifemaker / Craftsman / Service Provider
- Joined
- Oct 3, 2000
- Messages
- 6,955
At my day job they have heard up to 100% price jump by summer for mild steel. Stock up now if you have the funds available and use what you have as efficiantly as possible. Recycle what you don't use. One reason stated for the increase is the decrease of available recycled steel which drives up costs to make virgin material. Basically life in general is getting more expensive. Gonna be rough for a while to come I think.
- Joined
- Oct 3, 2002
- Messages
- 12,297
Steels and all metals are going UP UP UP.
There was a thread here about this a few days ago.
There was a thread here about this a few days ago.
- Joined
- Jan 1, 2004
- Messages
- 2,808
Yup... stock up if you can... :thumbup:
Don.... I think I have a little more room left before the island starts to tilt and lean a bit
Here's an article from today....
AK Steel leads way for steel price increases
By Jessica Lander-Heffner
Staff Writer
Friday, April 18, 2008
WEST CHESTER TWP. A recent surge in steel prices led by AK Steel Holding Corp. has been getting mixed reviews from analysts as to whether the increases are a good move in today's unsure economy.
U.S. prices for flat-rolled steel on average jumped to $740 a ton in March from $655 per ton in February, according to Purchase magazine.
However, AK Steel recently pushed the price to $1,000 a ton after raising prices for hot rolled steel by $150 a ton.
Other steel companies have been moving to follow suit, with ArcelorMittal announcing it will increase prices by $250 a ton on some steel shipments. U.S. Steel Corp. is expected to make a similar announcement.
According to the Steel Index, a London-based research form, strong global demand is the main driver behind the increased prices.
"This market has gone crazy. You'll probably see $1,000-a-ton steel (price average) by June," said steel industry analyst Charles Bradford of Bradford Securities of New York.
But analysts from the financial site TheStreet.com said stocks in the Market Vectors Steel ETF, which includes U.S. Steel and ArcelorMittal, could be overvalued. The analysts pointed to the recent surges in steel stocks despite a weakening U.S. economy as a potential concern for steel investors.
After the prediction, AK Steel's stock did take a hit, opening at $67.53 Thursday, April 17, then rising to a new high of $68.75 before closing at $67.60, a decrease of 90 cents.
Nancy Gravatt, spokeswoman for the American Iron and Steel Institute, said as long as the overseas demand for steel continues to increase, steel prices as well as U.S. company values will remain high.
Despite the mixed reviews, The Standard & Poor has maintained its neutral 3 Stars out of 5 Hold rating.
The Associated Press contributed to this report.
http://www.journal-news.com/hp/conte...08akstock.html
Don.... I think I have a little more room left before the island starts to tilt and lean a bit
Here's an article from today....
AK Steel leads way for steel price increases
By Jessica Lander-Heffner
Staff Writer
Friday, April 18, 2008
WEST CHESTER TWP. A recent surge in steel prices led by AK Steel Holding Corp. has been getting mixed reviews from analysts as to whether the increases are a good move in today's unsure economy.
U.S. prices for flat-rolled steel on average jumped to $740 a ton in March from $655 per ton in February, according to Purchase magazine.
However, AK Steel recently pushed the price to $1,000 a ton after raising prices for hot rolled steel by $150 a ton.
Other steel companies have been moving to follow suit, with ArcelorMittal announcing it will increase prices by $250 a ton on some steel shipments. U.S. Steel Corp. is expected to make a similar announcement.
According to the Steel Index, a London-based research form, strong global demand is the main driver behind the increased prices.
"This market has gone crazy. You'll probably see $1,000-a-ton steel (price average) by June," said steel industry analyst Charles Bradford of Bradford Securities of New York.
But analysts from the financial site TheStreet.com said stocks in the Market Vectors Steel ETF, which includes U.S. Steel and ArcelorMittal, could be overvalued. The analysts pointed to the recent surges in steel stocks despite a weakening U.S. economy as a potential concern for steel investors.
After the prediction, AK Steel's stock did take a hit, opening at $67.53 Thursday, April 17, then rising to a new high of $68.75 before closing at $67.60, a decrease of 90 cents.
Nancy Gravatt, spokeswoman for the American Iron and Steel Institute, said as long as the overseas demand for steel continues to increase, steel prices as well as U.S. company values will remain high.
Despite the mixed reviews, The Standard & Poor has maintained its neutral 3 Stars out of 5 Hold rating.
The Associated Press contributed to this report.
http://www.journal-news.com/hp/conte...08akstock.html
- Joined
- Apr 3, 2004
- Messages
- 3,536
I work construction and security, and a big part of my job is installation of window bars and security doors. Our base price for a 32x80 plain door used to be $120. Now it's $164 and going up. The steel yards here are already paying a grand a ton for scrap.
- Joined
- Jan 16, 2006
- Messages
- 1,246
Are the steel prices going up or are the dollars we are using losing value thus taking more and more? (rhet ?)
- Joined
- Apr 3, 2004
- Messages
- 3,536
I know that the current spike in steel prices started in about 2005, which is before the dollar really started falling. I'd say influenced by each, started by higher demand.