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The steel bubble will burst.(inside purchasing)(Steel products)

Purchasing

| March 04, 2004 | Smock, Doug | COPYRIGHT 2009 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

If you're a steel buyer, you know that prices are absolutely insane right now. If you buy products made from steel, like steel drums, brace yourself, you're in for a rude shock. Steel prices have been rising faster in the last few weeks than at any time since 1972. There are even rumors some types of steel may not be available in April.

According to www.purchasingdata.com, prices for cold-rolled sheet rose from $390 in December to $420 in January (including a materials' surcharge) and $480 in February. Tom Stundza's Steel Flash Report projects prices will be $565 in March, with plenty of upward potential. That's close to a 50% surge. How are your standard cost …

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Source: HighBeam Research, The steel bubble will burst.(inside purchasing)(Steel products)

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