Whats happening with Steel prices

   / Whats happening with Steel prices #1  

dsgsr

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Anyone close to the steel market? I'm going to be building a Loam/gravel power screen this winter (hopefully). Just wondering if I should Wait for steel prices to go down. Or are they going up? Thinking for making the main frame out of 3" box channel and the shaker out of 2". Any opinions appreciated.

David
 
   / Whats happening with Steel prices #2  
dsgsr said:
Anyone close to the steel market? I'm going to be building a Loam/gravel power screen this winter (hopefully). Just wondering if I should Wait for steel prices to go down. Or are they going up? Thinking for making the main frame out of 3" box channel and the shaker out of 2". Any opinions appreciated.
Steel prices vary by the week. The price will also vary by the particular type of steel (flat bar, round bar, angle, bar channel) that you buy in any given week. It's supply and demand. Here in New England most of our steel comes from mills in Canada. Plus there is a varying fuel surcharge.

My personal opinion as a frequent steel buyer, is to buy when you need it unless you are getting hundreds or thousands of pounds at a time like I do.
 
   / Whats happening with Steel prices #3  
You might look here for trend info.

I don't know what your building, what you need or what you have available in your area but I went snooping around my local scrap yard this weekend looking for a 24" x 48" piece of 1/4" plate. Scrap price ~ $28.00 or .35 per pound. New Steel plate ~ $110.00 or $1.35 per pound. Guess which one I bought?
 
   / Whats happening with Steel prices
  • Thread Starter
#4  
There is a scrap yard about 30 miles from me. I've looked around there before, Slim chance they would have all the material I would need in good condition and in the sizes I want.

David
 
   / Whats happening with Steel prices #5  
Our local scrap yard is a strange and wondrous place!! :) Chances are, if they ain't got what your looking for, you probably don't need it! In addition to scrap metal, they also sell new but at "new" prices, their scrap is good enough for me. Angle, box and U channel they will cut to length for you and they have a BIG shear that they can use to cut plate, but it is $1 per minute (15 minute minimum). Worth it though, if you want something cut to spec. Next time I'm out there, I'll take some pics and post.
 
   / Whats happening with Steel prices
  • Thread Starter
#6  
Spark_man, sounds like a wonderful place:cool: The scrap yard closest to me is mostly junk cars and equipment. All the other scrap is really junk, you might find a few 8 or 10' I beams or one piece of channel thats in good condition but seldom anything good in any quantity.

David
 
   / Whats happening with Steel prices #7  
Spark-Man, You sure know how to hurt a guy... When I was in San Diego the Handy Metal Mart was practically my second home. They sold both scrap and new and had decent prices. ++++++++++++++++++ As regards steel prices. I haven't followed the "futures" but there are small daily and weekly and some monthly swings back and forth but in general the trend has been up. Putting of a buy in hopes of getting a "DEAL" is pretty risky behavior, like betting against the house. Once in a while you might get lucky but in general the casino wins. When I bought the materials for my 57x48 steel building I got a heads up about price increase and ordered ahead of it. I let the materials set on skids in the weather in a field (red iron or galvanized so no problem) for nearly 2 years by which time the price had gone up to nearly double. For me, buying ahead was a good thing but I don't have a crystal ball.------------------------------------ I think in general the price is still trending up overall and any dips are just small ripples not effecting the rise of the tide. --------------------------------------------------- Pat
 
   / Whats happening with Steel prices #8  
Prices on all scrap metals will decline when the Chineese stop buying everything they get access to.
 
   / Whats happening with Steel prices #9  
bamatoolmaker said:
Prices on all scrap metals will decline when the Chineese stop buying everything they get access to.
Right, in 10 years maybe but not any time in the near future..
 
   / Whats happening with Steel prices #10  
I'm no soothsayer, but I suspect the cost of metal will follow the price of oil - Hey, it's a theory!

If you look at the prices, the cost of cold or hot rolled steel has had some swings, both up and down, over the last year. But it seems like the price of copper and Stainless has done nothing but go up.

We do some major renovation work and I was talking to an electrical contractor and he said that the suppliers he is working with will now extend their guarenteed prices for 24 hours! Woohoo! That's up from 2 hours a month ago.
 
 
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