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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: gg cox who wrote (46885)3/2/2004 6:09:40 PM
From: EL KABONG!!!  Respond to of 74559
 
gg cox,

There was a news article I saw with the past day or two regarding the purchase of scrap metal (in particular, scrap iron and steel) in the USA for eventual use in Chinese mills. Simply put, the Chinese buyers were outbidding their counterparts from the USA and Europe for all available supplies, forcing the prices for scrap metal much, much higher. Latest estimates for steel prices still show a doubling of steel prices within the next year or so.

For an end user of steel like yourself, you can either stock up now while the prices are still relatively inexpensive or you can attempt to pass the price increases on to your own customers at some point down the road a piece. Either way, the price of steel is going up and up and up...

KJC



To: gg cox who wrote (46885)3/2/2004 6:53:19 PM
From: TobagoJack  Respond to of 74559
 
Hello ggcox, <<Was told prices will be rising again, soon, and they were also saying this was because of strong demand from China>>

... well, yes and no, J6P wanting more cars and Greensputin's bad bad printing habits also have something to do with the price of steel, along with the abrcadabra that is evidently going on in China.

The restaurants in HK are packed full again, all is apparently well, and real estate is starting to move up.

J


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