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Steel prices are crazy

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  • #16
    Just received notfication from some suppliers about their steel price increases, here is some of the bad news. All plate and sheet +50%, Hollow structural tubing +65%, Pipe and DOM tubing +10%, cold finished +25%, Hot Rolled angles, channels, flats and rounds +25%. No good news at all, received four (4) letters yesterday morning and expect more in the near future. This sounds like depressing times.

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    • #17
      jfsmith- I saw one of those Chrysler Turbine cars last March while doing some research (on an unrelated matter) at the Smithsonian's storage facility at Silver Hill, MD. It was in absolutely new condition. If I recall correctly, the conservator I was with said that the vehicle had issues with exhaust temperatures that made it unsafe. It was a nice full size car, the sound the door made when it was shut was like a bank vault closing.

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      • #18
        The price of metals is not high, at least not much higher than it has been in the last few years. Yes, the dollar amount you pay for metals has gone up, but it is not because the metal has become more valuable, it is because the value of the dollar is going down the drain.

        As long as this country has an enourmous trade deficit, ballooning budget deficit, and insane tax and trade policies you can expect this trend to continue.

        It may be a good idea to hedge against a further fall in the dollar by making large purchases of metal now. In fact this could also be a good investment. You don't have to buy the metal you will need in the future, just one that is convinient to store and sell, like gold, silver, platinum, etc. Then, in the future, you can buy the metals that you need for a particular project.

        I was so mortified by the policies that I saw being implemented in the last few years, and the overvaluation of stocks, bonds, and real estate, that I went super conservative and put a large chunck of money into gold and precious metal about two years ago. Fortunately, that has proven to be a good hedge against the current financial insanity.

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        • #19
          A buddy of mine works for a steel supplier ad he said a couple of weeks ago that prices were going to rise because the stock was being bought up by China. A lot of building and rebuilding of cities are going on. Plus moving cities because of the 3 gorge dam project.

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          • #20
            I saw the Chrysler turbine car running once many years ago at Disney Land. It had the coolest engine sound. I would love to have a car that sounded like that. But, it was just about undriveable in stop and go traffic. The spoolup delay was on the order of seconds.
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            • #21
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              • #22
                Evan, yes spool up was a factor. I also seem to recall that slowing down was an issue as well, as there was no compression to slow the car when the accelerator was let off. By the way, I just recieved two lengths of DOM tubing, 1/2" ODx .125" wall x 48". The bill was $42.00.

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                • #23
                  I just Ordered some 0-1 from KBC at old prices, noemally I only buy small orders from them, but right now it's getting the price and the delivery.

                  Jerry

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                  • #24
                    If you are interested in turbine cars, the RRHT has just published "Pistons to Blades Small gas turbine developments by the Rover Company" by Mark C S Barnard.

                    There are some interesting pages about the Chrysler cars, with driving experiences. There were several generations of these cars, around 130 bhp, acceleration and lag were not too bad, better than the Rover cars, but handling and brakes were woeful in comparison.

                    Also a bit about a FIAT turbine car, looks quite good, but you can't help noticing the huge exhaust pipe sticking straight out the back. The author comments that the car was not really intended to be practical, just a high-tech excercise "Not least amongst its problems would have been the large volume of exhaust air at 400* C swirling around the traffic and melting the stockings on pedestrians at crossings!"

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                    • #25
                      I have a friend in manufacturing here in Saskatoon, and yesterday he said they were expecting shortages and price increases also (information they received from one of their metal suppliers)...so it ain't just in the USA.
                      Location: Saskatoon, Saskatchewan, Canada

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                      • #26
                        canonicalman, the value of the dollar isn't what is driving up the price of steel right now.
                        It is the supply, pure and simple.
                        One big problem is that all our mills here use scrap to produce new product. The Chinese are making their annual purchase of scrap.
                        Now if a scrap dealer can sell container loads to the Chinese for $235/ton or to a US mill for $150/ton, where do you think it is going to go?

                        I have at least 30,000lbs of HR scrap in the yard right now. Today I was quoted $110/ton for the scrap trains and $165/ton for my barrels of punchings.
                        I'm not through getting prices yet and I am in the drivers seat right now.
                        One guy offered me $160/ton for the scrap trains yesterday, but I don't know the guy. He offered $90/ton 2 weeks ago and $125/ton last week. I would probably never see the guy again if I let him take it.

                        The increases in the steel prices is hitting our customers hard. Makes it tough when a quote is good for 3 days maximum.

                        Les

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                        • #27
                          Jerry,

                          I see your point on the cars, but I, for one, don't want Toyota, Honda, Mazda, Ford, GM, Chrysler, or anyone else telling me what I should buy and drive! I had enough of that with the 60's cars, than you too much.

                          The best system is free enterprise. Let me underscore the word free.

                          Anytime government intervenes and attempts to "level" the playing field it always bites us somewhere else if not up front in the groin.

                          Water seeks its own level, and if given unfettered access to the public, so too, will prices. The reason is simply due to the ultimate power of the consumer and his wallet.

                          Marv

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                          • #28
                            L Webb,

                            It is interesting that the Chinese make an "annual purchase" of scrap steel.

                            Does anyone know how much steel the Chinese produce from ore, and how much they consume each year?

                            Also, what fraction of the steel imported by the Chinese is re-exported as finished steel products?

                            Lastly, over what time period has the price of steel spiked? The last weeks, or months or what?

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                            • #29
                              Free enterprise is really a great thing, if all governments would stay out of the market places. For a good while I got Japanese steel, but then we all found out that it was being subsidized. Then the U.S. placed tarrifs on imports to encourage American steel makers. This just keeps getting into a bigger mess.

                              If companies would compete on an even basis, they would always be modernizing thier factories and processes.

                              Someone told me this evening that I could get Spanish steel for a good price, but the quality control wasn't there, so buy a large quantity from the same lot, if I wanted consistency. I did know the Spanish were even in the steel making market.

                              Maybe we should form a buying Co-Op for steel and fix our own prices, this may be a long shot, but it may be worth it.

                              Jerry

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                              • #30
                                My mistake,
                                **************************************
                                I did know the Spanish were even in the steel making market.
                                **************************************

                                That should be: I didn't know that the Spanish were even in the steel making market.

                                Jerry

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