Steel prices up 20% this week, more to come

   / Steel prices up 20% this week, more to come #1  
HayDR

HayDR

Veteran Member, Approved Advertiser
Joined
Oct 4, 2002
Messages
1,947
Location
Johnson City, TN
Tractor
JD 2040,2240, 2355, 2755, 4055
Companies that don't have their steel contracted could see more than a 20% increase in steel prices. Iron Ore went up 65%. Oil prices above $100 a barrel means all the major components in steel are taking an increase. I just got a fax from a supplier canceling all orders that were placed before Christmas that had not been delivered already.

Scrap steel is bringing $300 a ton now and will be $600 a ton in 90 days.
 
   / Steel prices up 20% this week, more to come #2  
And the Government says there is very little inflation.:rolleyes:
 
Last edited:
   / Steel prices up 20% this week, more to come #3  
WOW !!!Crazy numbers indeed.coobie
 
   / Steel prices up 20% this week, more to come #4  
Well..................................... no reason the steel companies shouldn't be making the same kind of money as Exxon-Mobil, right ??? :confused:
 
   / Steel prices up 20% this week, more to come #5  
Ductape said:
Well..................................... no reason the steel companies shouldn't be making the same kind of money as Exxon-Mobil, right ??? :confused:
Click to expand...


(Off topic)
Exxon net profit margin is around 10%, what's the problem?
 
   / Steel prices up 20% this week, more to come
  • Thread Starter
#6  
KrumpsBrother said:
(Off topic)
Exxon net profit margin is around 10%, what's the problem?
Click to expand...
Profits make the world go around. If you don't like profits move to Cuba and live in abject poverty. Don't jump on Exxon because your 401K or mutual funds likely own some Exxon/Mobile stock.
The purpose of my post was to let you all know we are going to have a big adjustment in prices soon. So purchase equipment now if you can and save money.
 
   / Steel prices up 20% this week, more to come #7  
CCI said:
Scrap steel is bringing $300 a ton now and will be $600 a ton in 90 days.
Click to expand...
were did you get this info. i have scrap and
will wait if this is true. thanks
 
   / Steel prices up 20% this week, more to come #8  
CCI said:
Profits make the world go around. If you don't like profits move to Cuba and live in abject poverty. Don't jump on Exxon because your 401K or mutual funds likely own some Exxon/Mobile stock.
The purpose of my post was to let you all know we are going to have a big adjustment in prices soon. So purchase equipment now if you can and save money.
Click to expand...

Uhhhhhh, I don't have a problem with anyone/any corporation making a profit and I will not be moving to Cuba. Read my post again.

KB
 
   / Steel prices up 20% this week, more to come #9  
I saw a number of 30% the other day but thats besides the point. Its a limited resource being sold to a massive market with little competition. The price has no where to go but up! Besides, need that 30% to buy out all the alternative fuel companies to control their pricing too lol.

KrumpsBrother said:
(Off topic)
Exxon net profit margin is around 10%, what's the problem?
Click to expand...
 
You must log in or register to reply here.
 

Footer Links 1

Top