Steel prices up AGAIN

[86turbodsl]

Just saw prices at my local yard went up again. Square tubing is now over $4/lb and flat plate is $2/lb.

When will it end????

 

[FMB4]

Never.

 

[4 FN 27]

For 8 weeks in a row Steel Prices have remained flat. I think the price increases you are seeing retail wise are to cover the cost of shipping now...not to mention the devaluation of the dollar.

Hate to say you haven't seen anything yet. Wait until January...

 

[Walkers]

Dang, those are high prices. I am at $1.44 a pound for plate, only slightly more for HREW tube.

 

[86turbodsl]

For 8 weeks in a row Steel Prices have remained flat. I think the price increases you are seeing retail wise are to cover the cost of shipping now...not to mention the devaluation of the dollar.

Hate to say you haven't seen anything yet. Wait until January...

I doubt its transport. We have multiple steel mills right here in town.

What happens in January? I get the inflation, but not like a 50% increase. And yet scrap prices are going down.
Somebody somewhere is making bank on this sh*t.

 

[ItsNemo]

Just paid around $2.50/lb for plate up here...

 

[gmcgeo]

I am done buying everything, new year will bring more increases. 1 year backordered items and more

 

[sweetk30]

Best price i was just offer for steel scrap NOT tin thick **** was $300.00 per 2,240lbs not cut up yet . And prepped to short steel was $0.01 more per lb so not even worth the gas to cut it up if you can just get it there .

 

[speed bump]

Steel has been relatively stable recently. For standards shapes (not tube or pipe) it $.82-88/lb for the last several weeks. It's expensive considering last year but so far it's stable.

It would be cool if it was easier to move coal around right now which would help drop the price.

 

[MickeyD]

If you think that steel is bad, 6061 aluminum flat or round bar (I buy 3,000 to 5,000 pounds a month) has gone from $1.95 a pound in January to $3.80 a pound now and the distributors are forecasting $5.00 by next January. This hurts.

 

[snakeeyes]

Steel is probably up because large supply houses have stopped buying to try and squeeze the mills. The mills typically have less demand every q4, however this year they shut down a lot of their production to do upgrades and maintenance. Mills did this to try an maintain lower supply, since their orders were low to keep price where it currently is.

 

[nadogail]

I use only scrap and drops.

 

[metlmunchr]

If you think that steel is bad, 6061 aluminum flat or round bar (I buy 3,000 to 5,000 pounds a month) has gone from $1.95 a pound in January to $3.80 a pound now and the distributors are forecasting $5.00 by next January. This hurts.

Wonder if that's another case of Goldman Sachs or some of the other parasites of Wall St manipulating the aluminum market like they have in the past?