Steel prices-market volatility! WTF

[weldpro]

I am curious what everyone else is experiencing with steel prices.
In the last two weeks I have seen things that we are regularly buying in quantities of 1000ft+ SURGE as high as 30% . Pretty much every steel product is on the rise. The numbers I am getting are from three major suppliers on the west coast (commercial acct- volume buying).
I did know that something was coming by watching that U.S. scrap steel has been on the rise(supposed to be a good economic indicator)however- it is being bought up in majority by the chinese.
If you buy in small quantities or large tell us your story. Anyone know or have heard anything good- like possible stabilization sometime soon.....I am hearing BRACE yourself for a wild ride.
Richard

Suppliers are
PDM- Reno , Nv.
TW Metals-LA , Ca.
MSS- Alt, Ca.

[big97redtj]

We're still trying to figure it out. We got hit with a 30% increase on the tube for our axle program. It doesn't really hurt too much since there is only a few feet on each axle, but it's still a huge change overall.

[Chaz M]

all steel has been goin up...with the closure of many US steel plants Including Kentucky Electric steel (i belive they are startin back up again soon..but not sure)...we were paying right around $.39 per lb for steel...and has now gone up to .45-.53...that dose not sound like alot...but when we are bulding 50+ trailers a year that cost us more than $75,000 just last year just added cost

[JEEP_TJ_FREAK]

I am currently researching new sources for SS surgical blades used by my daytime employer. It seems SS has taken a hell of a hit not so much reflected in price but I am having a difficult time filling the required volume.

[Flipper]

Steel prices have been unstable for at least the last two years.

...I work for an auto supplier that uses a couple a tons a day.

[Sundowner]

as the dollar sinks, american steel is becoming more attractive to foreign buyers.

[weldpro]

Originally posted by Flipper
Steel prices have been unstable for at least the last two years.

...I work for an auto supplier that uses a couple a tons a day.

True for you.... however we are talking massive increases right now. When you use a couple tons a day you are seeing day to day price fluctuations up/down etc . For us we have been quite stable for the last two years-till these last two weeks.

Find out what you are paying today, and let us know.
Thanks

[weldpro]

Originally posted by Sundowner
as the dollar sinks, american steel is becoming more attractive to foreign buyers.

I have not been hearing that they are buying our new steel just our scrap(to make tube,sheet, etc. in their own mills) so that they can continue to make junk to sell right back to us.

[YJ4RoX]

over a year and a half ago i worked at a steel shop. We fabbed structural steel and warehoused as well. FOr regular shapes(tube, angle, etc..) and plates we averaged about $.29 cents a lb. Structural shapes, I-beams & such were @.38ish. Buy the time i left that job, plates were up to .35 and structural was .41.

The steel industry in my state has taken a big hit. All the little shops went bankrupt. My old employer, big shop, went bankrupt. The other large shops and suppliers are working 3 days a week.

2.5 years ago when i started in the steel business the shop ran 24-7 with 3 shifts and 100+ employees. There were 3 other shops in the area just as large. Now there are 2 and they are limited. My uncle still works at one so i get all the updates.

[Brad]

.50/lb for just small stuff
Alco Iron& Metal
http://www.alcometals.com/

[tubehead]

I know Oneal had a 20% increase and possibly another 20% on the way. I know several people that worked for Kentucky Electric Steel and they have been waiting for the reopening but they finally ended up getting other jobs. They have opened the plant back up on a very limited basis.

[Beezil]

most of our tubing and sheetmetal suppliers have started to change the length of time they honor thier quotes...

we have to get bids on materials in order to price a job, but usually by the time we get it, we have to requote it....

Our number one tubing vendor just went to 10-day quotes.....

we just got an order that uses 20,000 lbs of sheet metal...our buy price turned out to be 15% higher than quoted....

we got way fawked....

15% across that kind of order amounts to some REAL money....

believe me, this really sucks....

I think it will get a little worse, before it gets any better....

word in the street (chicago is a good industry barometer) both manufacturing and machining is up, we're starting to get cookin, so that will pretty much stabilize the market (I hope)

Beezil
Midland Metal Products
chicago

[weldpro]

This has been very informative to me . I almost feel somewhat lucky by comparison to some of what I am hearing here- sad stories with folks losing jobs , shops cutting time to three days , and overall losses on bid out jobs.
I too am hoping that we see some stability come around soon but like most I am sure we are going to get hit for atleast a short while before we see this. One thing that would be cool to see is the US steel mills(the ones closed right now) coming back online.
Richard

[Sundowner]

last steel bridge I priced was $0.40/lb raw and $1.02/lb fabricated for steel beams.

this is really going to piss me off.
higher steel prices means I have to design more shitty (read: cost effective) prestressed concrete beams.

I hate concrete beams.

[MikeW]

I really wish our steel industry would be productive like it was in the 70's. Foreign Steel Dumping

[d.d.machine]

I don`t do a lot with steel but alum is still at a good price, just got 500+ lbs of 6061 for $1.46 it was all rounds but thats better than the close to $3.00 a pound I was paying a year ago for the same chit, After 20+ years of working in machine shops I have seen this wave of price go by every few years so just ride it out and it well pass. for the most part steel has not changed mutch in price over the years, I was paying 18 cents a pound 20 years ago.

Duffy

[Franklin]

Originally posted by MikeW
I really wish our steel industry would be productive like it was in the 70's. Foreign Steel Dumping

Not so quick. Some blame goes to labor unions but most of it goes to the steel industry not upgrading their mills to improve effiecency. Look at NUCOR for a steel company that went the right way.

In furniture, (my biz) steel has went up about 16% in the last 18 months

[weldpro]

Originally posted by d.d.machine
I don`t do a lot with steel but alum is still at a good price, just got 500+ lbs of 6061 for $1.46 it was all rounds but thats better than the close to $3.00 a pound I was paying a year ago for the same chit, After 20+ years of working in machine shops I have seen this wave of price go by every few years so just ride it out and it well pass. for the most part steel has not changed mutch in price over the years, I was paying 18 cents a pound 20 years ago.

Duffy

I have not had to purchase any aluminum lately so I was going to ask that question! Thanks for the response.
Richard

[MikeW]

Originally posted by Franklin


Thanks for correcting me there, when labor unions demand higher wages, they drive companies to outsource labor.

Not so quick. Some blame goes to labor unions but most of it goes to the steel industry not upgrading their mills to improve effiecency. Look at NUCOR for a steel company that went the right way.

In furniture, (my biz) steel has went up about 16% in the last 18 months

[bigNATE®]

steel is bouncing around here as much as 15% in a DAY, scrap jumpped to $113 a net ton

[weldpro]

Originally posted by blackICE ®
steel is bouncing around here as much as 15% in a DAY, scrap jumpped to $113 a net ton

you almost seem happy about this!?

Do you sell scrap?

Tell me more!!!!

[braxton357]

Originally posted by Franklin



Not so quick. Some blame goes to labor unions but most of it goes to the steel industry not upgrading their mills to improve effiecency. Look at NUCOR for a steel company that went the right way.

In furniture, (my biz) steel has went up about 16% in the last 18 months

Where do you get yours? Benco?

[YELLER BLAZER]

I buy and sell 100+ tons of pipe a month. the price has been fairly stable for the last 2 years. it has gone up 16% since the first of December and is expected to rise 10-12% per month untill early summer. It won't last its just time for some idiots to create a shortage to squeeze out a bunch of extra $$$$$$$$ it happens every few years its just worse this time than normal.

[Rescue]

We Canadians are suffering too! Our steel is going to China! Our prices went up 15% in a few days. I pay my steel at 99 cents a pound!!! It cost me 30$ for a 4 foot piece 2x2 3/16"

[Beezil]

Originally posted by weldpro


you almost seem happy about this!?

Do you sell scrap?

Tell me more!!!!

hell yeah!!!!

its great news.

last time my scrap hopper/compactor (about 60 yard) was picked up last week, we goty 80 bucks a ton.....

113 sounds good to me!