[Vision2020] Rising Steel Prices
Dick Schmidt
dickschmidt@moscow.com
Sat, 21 Feb 2004 09:13:22 -0800
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All,
I want to clue you in on what has been developing in the steel industry. =
I have been involved in this industry since 1963 and we are seeing the =
largest price increases and shortages I have ever witnessed.
In December they were talking about $30.00 a ton increase on products I =
am now selling, painted light gauge coil for the building industry, for =
$1,375.00 a ton. Yesterday I heard that in the Midwest and east coast =
they are now talking $450.00 a ton price increase. Re-bar (deformed =
reinforcing rod) has gone up 300% in some cases. Some nail prices have =
risen very fast with 16d (2-1/2") Common and 8d (1-1/2") Common almost =
unavailable. Because the price of scrap metal is at an all time high, in =
Detroit thieves had been stealing manhole covers and selling them to =
scrap yards for $7 each until a law was quickly enacted to fine any =
scrap yard found with manhole covers $10,000. We are going to be seeing =
the results of this in the near future in higher prices for cars, =
appliances, steel buildings,and other products made of steel.=20
Contractors on road and bridge jobs that have already been bid are in a =
squeeze because of the higher reinforcing rod prices and other steel =
used. In Michigan one contractor is already contemplating bankruptcy if =
held to contracts for large road projects because of his increased cost =
for steel.
Plywood, OSB and wafer board prices have more than doubled and are in =
short supply in recent weeks so housing costs will be going up.
All this because of George Bush's Iraq war. All the above mentioned =
products are being sent to Iraq as fast as they can be loaded in =
containers to rebuild what our military has destroyed. How fortunate for =
companies like Halliburton.
Dick Schmidt
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<DIV>All,</DIV>
<DIV> </DIV>
<DIV>I want to clue you in on what has been developing in the steel =
industry. I=20
have been involved in this industry since 1963 and we are seeing the =
largest=20
price increases and shortages I have ever witnessed.</DIV>
<DIV> </DIV>
<DIV>In December they were talking about $30.00 a ton increase on =
products I am=20
now selling, painted light gauge coil for the building industry, for =
$1,375.00 a=20
ton. Yesterday I heard that in the Midwest and east coast they are now =
talking=20
$450.00 a ton price increase. Re-bar (deformed reinforcing rod) has =
gone up=20
300% in some cases. Some nail prices have risen very fast with 16d =
(2-1/2")=20
Common and 8d (1-1/2") Common almost unavailable. Because the price =
of=20
scrap metal is at an all time high, in Detroit thieves had been stealing =
manhole=20
covers and selling them to scrap yards for $7 each until a law was =
quickly=20
enacted to fine any scrap yard found with manhole covers $10,000. We are =
going=20
to be seeing the results of this in the near future in higher prices for =
cars,=20
appliances, steel buildings,and other products made of steel. </DIV>
<DIV> </DIV>
<DIV>Contractors on road and bridge jobs that have already been bid are =
in a=20
squeeze because of the higher reinforcing rod prices and other steel =
used. =20
In Michigan one contractor is already contemplating bankruptcy if held =
to=20
contracts for large road projects because of his increased cost for =
steel.</DIV>
<DIV> </DIV>
<DIV>Plywood, OSB and wafer board prices have more than doubled and are =
in short=20
supply in recent weeks so housing costs will be going up.</DIV>
<DIV> </DIV>
<DIV>All this because of George Bush's Iraq war. All the above mentioned =
products are being sent to Iraq as fast as they can be loaded in =
containers to=20
rebuild what our military has destroyed. How fortunate for companies =
like=20
Halliburton.</DIV>
<DIV> </DIV>
<DIV>Dick Schmidt</DIV>
<DIV> </DIV>
<DIV> </DIV></BODY></HTML>
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