Steel price increasing

[ekdenton]

Just a note to let people know that here in the US steel prices have increased about 10% Since Jan 1st, and I just recieved notices from all my vendors that as of next Tuesday prices across the board will be 20% higher.

So that 7" channel that was around $6.25ft will be over $7.50 next week.

That will make a significant difference in the material costs of the MM. My vendors are hoding current price until next Tuesday. If you still need some materials you may want to place orders today and ask if you can get the pre-increase price.

[Gerald D]

Ed, steel prices here have risen by 60% since January 1 !

[IN-WondeR]

Steel prices here in Denmark has also risen, but only around 15%.

[DMS]

Around 15 % in India.

[Kevin]

I went and picked up some steel today... the 4"x2"x.083" tube was $3.20 per foot. The 7" 9.8# channel was $7.70 per foot. And I got 2 1/2"x1 1/2"x1/4" angle iron and it was $2.82 per foot. All full 20" lengths...

My salesman says they will be going up 20% by the end of the month...

[ekdenton]

Kevin,
Looks like you got the new prices kevin. With the increases I am at $2.88 on the rect tubing and $7.45 per foot on the 7" channel. You didn't get a real good price but then again, if things keep going like they are in August or September you will be saying "gee I am glad I bought my steel when I did". I haven't heard of the end of the month increase, but I wouldn't doubt it, sounds like we have a little ways to go to catch up to the increases that Gerald D is seeing in South Africa. My vendor in Amarillo TX has an article about the prices in Africa, it is significant enough to make worldwide news, or at least news here.

What happens shortly after something like this is the, bearings, bolts, lasercutt parts, motors, racks, pinions, ect ect ect is going to follow.

Steel is a pretty volitile market, that was so stable for a long period of time and I think most people got used to that. Now, the world demand is high, the price of gas or diesel to take the raw materials to the foundry is at record high, and the value of the US dollar is falling. It is not going to get any better until the above listed things get better. Could be awhile.

[Gerald D]

South Africa is a producer of iron ore, coal/coke and of steel. We export streel. We first had a state corporation running our steel industry, but political changes insisted on that corporation becoming public and trading shares on the open market. It was snapped up by Arcelor Mittal which is controlled by a gentleman named Lakshmi Mittal. Never heard of him? Read that last link and see why our steel is so expensive.

[Doug_Ford]

I guess someone has to pay for his $128 million house and his daughter's $60 million wedding. Geez.

[domino11]

Gerald,
This doesnt look good for steel prices. From the associated press.



3,000 steel workers begin strike at Arcelor Mittal steel company in Romania

THE ASSOCIATED PRESS

BUCHAREST, Romania - Guards used tear gas today on hundreds of striking workers who were trying to storm a factory owned by the
Arcelor Mittal Galati steel company in eastern Romania.

Some 3,600 steel workers have begun a strike at the plant to demand higher wages, said trade union leader Gheorghe Tiber in a statement.

The company is offering a monthly increase of the equivalent of $44 for those earning the lowest salaries, and a percentage increase for those
on higher salaries.

The union wants each worker to have a monthly increase of at least $123. The plant employs some 13,700 workers.

Earlier Monday, about 800 striking steel workers threw water, bread and stones in the factory yard before trying to storm the building. They were repelled by guards.

Arcelor Mittal Galati is part of ArcelorMittal SA, the world's largest steelmaker. It bought the plant from the Romanian state in 2001.