Steel prices worldwide going up!

[Buster57]

I believe that steel prices are very cyclical in nature and will fall precipitously in the not too distant future. On a global basis, capacity is relatively easy to accumulate in the steel manufacturing industry. Demand for steel in the growing Chinese economy may ultimately help US Steel manufacturers.
The biggest obstacle I see to a stable price of steel is not Chinese demand, but rather the devaluation of the US dollar. This is primarily due to our budget deficit. I believe this deficit may cost us in raw material procurement as well as many other strategic areas. I also see neither side in our political landscape getting a grip on this very troublesome situation.

 

[Egon]

The steel industry may also be saddled with many out of date foundries.

Wonder how well Nomad cleaned up on Steel Futures.

Egon

 

[PineRidge]

<font color="blue"> Wonder how well Nomad cleaned up on Steel Futures.
</font>

I think he bought when the price of steel was low then converted it into a new type of modified high lift mower blade. Last I heard he and his tractor were cruising at an altitude of 35,000 feet. I hope he's got an oxygen supply up there. /forums/images/graemlins/grin.gif