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Steel prices are crazy

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  • #31
    The price of steel has been steadily rising for the last year.
    It made a jump last spring, then again in the fall. The painful increases have been hitting since October or November.

    There were at least 32 price increases from the mills last year alone.
    Now the mills aren't putting out as much production and supply is starting to hurt. So that means prices are going up.

    Some steel houses are reluctant to sell us full bundles or all they have in stock of a particular item as the mills may not run more for several months, leaving them unable to supply other customers.

    I passed one steel house on the way home tonight and was shocked to only see about a dozen steel coils where there is normally about 40 coils. Either they don't want to pay the price to replace it or they just can't get it.

    Les

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    • #32
      Wow! I thought about starting this thread a couple of weeks ago. I used to get 3/8 HR plate (4x8) for something around $130. A couple of weeks ago, I had to pay $250 something. Geez, that's robbery!

      Iron/steel Scrap prices down here used to be $1 a hundred. I think it went up to $1.20 or $1.40.

      They've still been selling it at $0.10 a pound though. That's how I got my punch press.

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      • #33
        First of the year we placed our stock order early because we knew the prices would spike,we ordered in 28,000 of cold rolled and structurals at the old price(.45 per pound)Tube that we use comes from Canada and it stayed the same and actually went down as of last Friday when I restocked at work.

        Bush imposed the tariffs not to prop up jobs directly,but instead to stop dumping(which was occuring all through the Clinton years with nothing being done to stop it)when the tariff was removed the domestic mills have inventory on hand that they need to dump fast,but at a higher cost,so what to do?Artificially drive up the cost of scrap and new steel for a short time to cover our butts before the next run of cheaper imports hits the docks(about four months.)Look for cheaper steel in June.

        Steel for the past three years has averaged between $370 and $408 per ton,now it is up to nearly $470 per ton,not that much increase.

        I find it ironic that the very people who are complaining about "job loss to overseas labor" are also now complaining about the tariffs imposed by Bush that saved their very jobs.Last time the tariffs were called by the DNC "a cheap political ploy aimed at union voters" this time they are "ill-concieved" it proves that the Dems have no clue whatsoever.The alloy mfgs are plain screwing with the market since the tariffs never even affected them,they are just gouging plain and simple.

        The scrap prices here have tripled in the last two months,that big pile of scrap you see in some of my pics(115,000 lbs worth)will most likley be gone by the end of the summer and the increase in steel prices wil be offset by the scrap gains,again much to do about nothing.
        I just need one more tool,just one!

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        • #34
          Weirdscience wrote: "I find it ironic that the very people who are complaining about "job loss to overseas labor" are also now complaining about the tariffs imposed by Bush that saved their very jobs."

          It's generally conceded now that the tariffs aided the steel industry, but resulted in a net loss of American manufacturing jobs. The job loss was due to increased cost of domestic steel making the end products too expensive for consumers. The making of those products was then shifted offshore resulting in major job losses, probably never to return.

          This is what I've gathered from reading the editorial comments in trade magazines related to metal fabrication industries.

          BTW, the majority of the steel I buy is bar stock. Have any of you noticed the poor surface finish on the cold rolled bar stock since we've had to buy domestic material? The leaded screw machine stock, 12L14, has been especially bad. We have several parts that go to the platers with no surface preparation, we've had to switch to a brushed finish on those parts to hide the pitted surface.

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          • #35
            I used to work for Whirlpool. They use more steel than any other company (automakers included).

            I should see what their stock is doing right now.

            Curiously enough, almost all of their manufacturing with steel is done in the USA. They do import some of their appliances, but from Whirlpool companies abroad.

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            • #36
              Funny, at the time of the Steel Tarif mess, I witnessed the unions and many Dem's. calling for tarifs on steel. I did work for a steel mill in Jewett and axk a fellow why all the fuss. He said foreign steel was just cheaper. Since the last election Bush has been blamed for everything from global warming to the common cold. Whats New??

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              • #37
                The increased price was not the net result of the tariffs being imposed simply because those jobs are going away regardless of what anybody does,forigen steel is simply cheaper,and since its all made mostly from scrap anyway the Asian mills(which BTW are more accurate)are taking over the market,jobs in the steel industry in this country are gone forget it and there aren't that many jobs in a modern steel mill anyway.

                The prices we have are the direct result of the steel industry gouging plain and simple,I got in ahead of the curve and bought while the prices were cheap,I have enough to last till June maybe even further as a result I have more work than I can manage.
                I just need one more tool,just one!

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                • #38
                  DR. Where are you getting your stock from? All the suppliers I used except one always had very good stock. I did get some stuff that was not only not round ,but laminated as well. That was from Great Lakes Surplus Steel.
                  There is also the option of centerless grinding the barstock before its cut.Not that hard to do.

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                  • #39
                    I get my bar stock from suppliers in the Pacific NW, Summerville, Ryerson, etc. It took awhile for them to admit there was a problem with the bars. The usual answer was "no one else has mentioned problems". It wasn't long before they couldn't use that excuse since practically everyone was complaining.

                    Yes, centerless grinding is an option. Too expensive for these particular parts. Centerless belt grinding is much less expensive, still a needless expense if we could get decent material.

                    Back in the "old" days you could count on CR bars to have an almost shiny surface, no longer. We did find a source of leaded screw machine stock called "Martin Bright" which has the finish we need. It's a little more expensive than the regular stuff and has to be brought in from California.

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                    • #40
                      Rusty,

                      Do you have a website or phone number for Great Lakes Surplus Steel?

                      Thanks,

                      Jerry

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