Steel prices forcasted to go up 66%

[charlz]

FYI for those of us who like to build stuff... or buy stuff made out of steel If you have a steel purchase planned it might be better to buy now rather than later :thumbsup:


FT.com / Companies / Basic Resources - Steel price forecast to rise by up to two-thirds

 

[Argosy]

Years ago I used to build engine stands and hoists when things got slow. I gave up when the Chinese could build them and ship them half the way around the world for less than I paid for steel.

I can't imagine what will happen if prices go up that much.

 

[om21braz]

I would have to question whether this rise would be true demand or speculation. That being said, our company has orders better than usual for this time of year (small OEM company) and FT has far better stats than I.

 

[/pine]

why not post the content rather than post a link to a site that requires registration just to read an article?...

otherwise it's just spam IMO...

 

[charlz]

why not post the content rather than post a link to a site that requires registration just to read an article?...

otherwise it's just spam IMO...

I originally got to the article from yahoo news, didn't realize you had to register, must be some kind of sharing agreement or something where you don't have to register if you are coming from yahoo.

See if using this link lets you get there:

http://rds.yahoo.com/_ylt=A2KJjajSA...9a.html%3Fftcamp%3Drss&_i_referer=&ftcamp=rss

 

[Milton Burro]

why not post the content rather than post a link to a site that requires registration just to read an article?...

otherwise it's just spam IMO...

Plus one. If it's on the internet, it must be true. Most of the inflammatory crap forwarded to me via e-mail is just that, crap.

 

[beenthere]

And if it is from Yahoo, then it is more liberal doom and gloom that they seem to relish in emitting.

I doubt the steel prices will go up that amount, and if they do it would be a result of higher demand to drive the prices up.

I would be encouraged by anything in this economy that would push up demand, but I'm thinking if anything this is a "gonna be scarce" toilet paper trick to get people to begin hoarding (and that will drive prices up).

Stay the course and invest wisely, IMO

 

[turbo36]

And if it is from Yahoo, then it is more liberal doom and gloom that they seem to relish in emitting.

I doubt the steel prices will go up that amount, and if they do it would be a result of higher demand to drive the prices up.

I would be encouraged by anything in this economy that would push up demand, but I'm thinking if anything this is a "gonna be scarce" toilet paper trick to get people to begin hoarding (and that will drive prices up).

Stay the course and invest wisely, IMO

I buy over 1 millions pounds of steel per year , it has already increased 30-35% in the last 8-10 months. You can doubt all you want but it is already happening.

 

[Storm56]

And scrap prices are certainly heading up...

 

[Sulla]

It's true. The Federal Reserves quantitative easing is flooding the economy with cheap money most of which is going into commodities. Food prices have risen so much that food riots are breaking out around the world. Copper has increased almost 100%. Speculation is so rampant in the metals and basic food food stuffs that it is starting to push up inflation.

They've created another bubble and anyone who needs one of these commodities to feed their family, whether through their business or directly from corn or wheat being imported, is caring the burden of the Bankruptcy of Ideas at the Fed. Be careful loading up on anything. The markets are like musical chairs. The music will stop and someone will be left without a seat. Don't let it be you.