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Price of steel


Dave A

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OK First off this is meant to be informative and not to start acrimonious political debate or snark. @dwilawyer please delete this or moderate this as you please.

 

   Today I went to my steel supplier for the first time in some months. Hot Roll Mild Steel is is the cheapest commodity there is in the steel world. Last October my supplier was buying at 35 cents a pound. A few months back we were discussing stupid high prices at 75 cents a pound. Today the price is $1.78 PER POUND and if you do not order right then the price can and will change. Since I have been in the business beginning in 1981there has never been anything even remotely close to this run up. One time about 15 years ago there were problems in Africa that disrupted Nickel production and that caused Nickel to top $30,000 a ton briefly. Anything using Nickel like stainless steel  went through the roof. No one seems to know why this current steel run up is going on.

 

  If any of you have major plans involving anything using materials you might want to either put them on hold for some time or do it quickly or at least check in to see what the price tend is. Personally I can't see how this can go on for much longer before cost kills demand. The cheapest double wide around here is $140,000 now. Scary stuff.

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Started pricing materials for a small project in my music room and will need several feet of Romex. Menards has posted signs telling customers that the price we are seeing for copper is the highest they, Menards, has seen in 10 years. I guess the sign acts as a  “don’t blame us for these prices” warning prior to stomping to the front counter to speak with a manager  -  

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55 minutes ago, Dave A said:

The cheapest double wide around here is $140,000 now. Scary stuff.

Double wides are scary in tornado country, which seems to be next to everywhere these days.  But if you can avoid those, the disposable income resulting from low cost housing is formidable and an economic driver.  Warren Buffet has always seen that market as one with lots of discretionary income ripe for consumer goods spending.  You would be lucky to find a shack for 140 just about anywhere.  Back in the 70's real estate was begging for buyers in the cities, although some had caveats of refurbishment.  If you had the jam back then you would not have to work today by taking advantage of the circumstances.

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1 minute ago, Dave A said:

Right so how do you do that might be better than what you said.

Cool, just start typing out @dwilawyer and below that a list starts appearing with options of members.  Once you get to the full name there will be only one choice.  You can find him in the list before that but the key is to then click on the name in the list, that will cause the highlighted name to show in your text.  That is the description, I can't actually show it but you can figure it out.  Cheers.

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Just now, oldtimer said:

Cool, just start typing out @dwilawyer and below that a list starts appearing with options of members.  Once you get to the full name there will be only one choice.  You can find him in the list before that but the key is to then click on the name in the list, that will cause the highlighted name to show in your text.  That is the description, I can't actually show it but you can figure it out.  Cheers.

Thanks.

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Don't forget the vehicles. If you have any extra pickups out back, give `em a quick wash and a wax and you can get 40k for any make with 150,000 miles on it!

And that isn't much of an exaggeration!

 

Now Xochitl tortilla chips are my favorite... almost as good as fresh made at a restaurant. But $14 for a small 11 oz bag? It can rot on the shelf as far as I'm concerned. Late July is not too much better now. Got to find a way to use all my salsa and j a p s without buying those awful l a y s tortillas or the leathery ones. 

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2 hours ago, oldtimer said:

Cool, just start typing out @dwilawyer and below that a list starts appearing with options of members.  Once you get to the full name there will be only one choice.  You can find him in the list before that but the key is to then click on the name in the list, that will cause the highlighted name to show in your text.  That is the description, I can't actually show it but you can figure it out.  Cheers.


 

E94DB07C-ED4E-4A16-AD99-AF85ECB3F864.thumb.jpeg.c2ba60e900a3053c4af5034dbac877e8.jpeg

 

 

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5 hours ago, Dave A said:

If any of you have major plans involving anything using materials you might want to either put them on hold for some time or do it quickly or at least check in to see what the price tend is.

True, prices are constantly changing, metal or wood.

 

Been working with steel for a couple weeks now, 6" I-beams. I got lucky, I got a bunch of metal years ago from my wifes father in law, he would bid on taking down buildings in plants and sell it for scrap. He had about 5 acres with leftovers and told me to take what I wanted, back then scrap prices were dirt cheap, not so much anymore.

I am building a loft (storage space) in the shop, I could NOT afford to do this at todays prices, even if I used wood. All it cost me was some welding rods and cutting and grinding disc.

 

Also glad I built the shop this past winter, I am sure those kits went up.

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4 hours ago, oldtimer said:

Cool, just start typing out @dwilawyer and below that a list starts appearing with options of members.  Once you get to the full name there will be only one choice.  You can find him in the list before that but the key is to then click on the name in the list, that will cause the highlighted name to show in your text.  That is the description, I can't actually show it but you can figure it out.  Cheers.

How does someone change their Forum name?

 

Austin, today apparently, has become "the most expensive city outside of California." What does that even mean?

 

Don't know much about steel, but I can tell you exactly why cost of lumber is up, it goes back over 15 years right up to the  tariffs few years ago. 

Increased demand, reduced supply, higher prices for imported alternatives, prices are way up. It will take a year for the market to adjust.

 

This thread is like deja vu, didn't we go over this a couple of weeks ago around the time of pre-announced price increases on Heritage. 

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Tubing is crazy too. Just heard a quote on 10,000 lbs of square tubing at $1.30 /lb. Never seen it anywhere near that high before. Scrap iron paying $12 on the hundred right now here. I have 10,000 lbs laying around here that needs to go.

 

EDIT: Our latest price on hot roll plate and tubing approaching $1.75/lb for either one. Nuts. Not that long ago it was around .35 for either.

 

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8 hours ago, dwilawyer said:

Isn't that your Dad?

Looking at it now your right, stepfather would have been the right choice. 

 

He lived in North louisiana, he was one mean old guy who knew everything, almost. One thing he apperantly didn't know or care about was us and others warning him about smoking while on oxygen, well he cought himself on fire and died.

Yes I did laugh and he probably would have appreciated that since he insisted on never being cremated. We rarely got along and I did laugh and still think it is funny.

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