Darling Tells WAFD: Steel Prices Relatively Stable for Next 6 Months
Darling Tells WAFD: Steel Prices Relatively Stable for Next 6 Months
John Wolz
“There appears to be adequate steel available to meet current demand,” Bruce Darling of Porteous Fastener Company told the Western Association of Fastener Distributors.
Steel prices may move up slightly during the next six months “but the longer trend seems to be down a little,” Darling projected.
He noted that there is a four or more month lead time and “it takes a while before a steel price change reaches the finished goods average cost.” “Remember, as you read about steel pricing, that CHQ wire rod is low on the steel ‘food chain,'” Darling pointed out. “Pricing of steel flats and beams move more quickly than wire rod and is more widely published.””
Since June Metalloyd reported steel plants have reduced the number of employees and increased use of overtime to meet seasonal needs, Darling explained.
Steel production worldwide is growing at a 10% rate. China is up 37.5%, India 12%, Africa 10.6%, South America 2.7% and Russia 1.8%, Conversely the European Union is down 4.8%, U.S. 2.8% and Australia/New Zealand 1.7%. bdarling@porteousfastener.com �2005 FastenerNews.com
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