Steel Prices up 17 Percent
Since steel is the primary raw material used to manufacture our products we closely monitor price changes in the market. To date we have seen slight, periodic increases in the cost of steel. However, steel producing mills have recently announced larger increases of approximately 17% that will take effect over the next couple weeks. The main factors for this dramatic increase are the rising costs of scrap metal and ore, primarily due to the escalating demand in the Asian markets. As global demand for steel grows we expect this trend to continue. You can expect to see an impact on the prices of all steel related products in the second quarter of 2008.
@Thomas Agreed. This was posted during the big increases happening to many commodities in the middle of April 2008. Increase This was such an usually large jump in prices we wanted to explain what we were seeing. Fortunately steel prices seem to be returning to more manageable levels. Thanks for posting and the kind words about the site.
January 28, 2009 at 2:03 pmThis posting is probably out of date. Overall, this is a great website! Awesome!
January 27, 2009 at 8:40 am