The Price of Steel

Probably a topic near and dear to a number of us.

I just got back from my local steel supplier (IMS). The steel remnants that used to be $0.59/lb are now $0.99/lb.

A stick (20') of 2" x 2" x 0.250 is $145 ($7.231/ft).

A stick of 1 3/4" OD x 11 Ga is $70 ($3.522/ft).

A stick of 7/8" OD x 16 Ga is $18 ($0.8947/ft).

Those are all higher than they were last week. We will see where they go from here.

Sounds like the same thing that happens to gas.
A rumor spreads that the base unprocessed commodity will go up, and the delivery end of the final product thinks $.

WB9YZU said:

Sounds like the same thing that happens to gas.
A rumor spreads that the base unprocessed commodity will go up, and the delivery end of the final product thinks $.

Click to expand...

I think you hit the nail on the head with this.
:wow:

A friend is in the fire suppression sprinkler business. His company had an order placed for three shipping containers of black iron pipe nipples from China. The order was supposed to go out last week. It didn't. They called to ask what was up. The company told them they decided not to fill that order because they could now sell the product to someone else for more money.