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Steel prices

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  • #16
    steel prices

    My understanding of the new high steel prices is this. Pres. Bush, at the behest of union labor and the major steel companies, put a tariff on non-U.S. steel. This was supposed to protect US steel companies that had not modernized. The companies used that protection to raise prices, and to try to stay in the market. From my parochial view it sent the prices higher, and I'll bet, the unions asked for more money. After the tariff, 19 terrorists destroyed the WTC. I think the tariff has been abolished, but demand for steel is on the upswing. I also hear that Iraq is a hot spot for steel.


    • #17
      The health and future of our economy shouldn't rest in the hands of jealous foreign free trade courts and Judges like it is now. American companies have been losing in stacked against us free trade courts ever since we been part of it. If anyone is to blame for fluctuating prices it's the commodity brokers that exaggerate rumors and lies just to raise prices.

      Hey they have to pay for those Porches,Jaguars and million dollar summer cottages some how, might as well be on your dime.


      • #18
        I've read quite a few articles so far and they basically all say the same thing, that the major suppliers of scrap steel are the U.S. Some countries i can't remember in South America and Russia and the Eastern European Countries. Now from these articles people say that Other then the U.S. these other countries have a restriction as to how much still they can export, pleaes note this is not a tarrif, they're just putting restrictions on their steel, so in short, if these countries using up steel like it's a box of frosted flakes, can't get it from south america or russia then they're going to get it from the US. Even though this sucks, you know these steel brokers or whoever is selling steel overseas is making a small fortune.


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        • #19

          Tariffs cannot be self imposed. The WTO sued and won against the US. The Tariffs have been down for a year or so. The price of steel(still?) has not come down. The price has risen due to an economic upturn in the US and the rebuilding of Iraq. The price would come down,maybe, with the building of a new mill or two. That will not happen in the US, due to political considerations.