$teel
One of the effects of China's steel consumption (combined with a weak dollar and a shortage of coke):
60% increase in the price of steel in this country."A USA Today article last month reported that the price of hot-rolled coil steel in the United States hit $482 a ton in February, up 66 percent from a low set last June. A Wall Street Journal article quoted Thomas Usher, chairman and chief executive officer of U.S. Steel, as saying if the economy stays strong and the kind of growth seen in the fourth quarter continues, prices could stay up for an extended period. Merrill Lynch analyst Daniel Roling was quoted as saying he expects hot-rolled prices to end the year at $385 a ton, up 30 percent over last year's average price of $295.
Buildings just got a whole lot more expensive.
* Ray, 3/18/2004 03:14:56 PM
