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To: Whatnot who wrote (142006)4/7/2006 10:08:58 AM
From: Jon Koplik  Read Replies (1) of 152472
 
Re : steel prices -- I posted a whole series of WSJ articles on steel prices on another SI thread ("John P's Market Laboratory")

Subject 32953

I believe if you do not "cherry pick" February 2004 as your comparison point, you will get a vastly different picture.

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Also, my family has been involved in the scrap metal business for three generations now.

I actually wrote a paper for my English class in 11th grade (1973 - 1974), interviewing my cousin who ran the ferrous metals scrap yard.

I am virtually positive that steel prices today (on a nominal basis) are not as high as in the early 1970s.

(This would not be much of a shock, as it is also true for MANY other commodities).

Jon.
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