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Old 04-19-2021, 02:33 PM   #1
redfishted
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Default Steel prices

If you need something you better buy in now, increases coming between now and August are insane.
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Old 04-19-2021, 02:37 PM   #2
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Man it's going to be ugly when all of this busts. I don't think the country can handle more price increases from the already highly inflated ones.
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Old 04-19-2021, 03:06 PM   #3
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They are inflated because orders are 6 to 8 months out.

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Old 04-19-2021, 03:16 PM   #4
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I bought just enough steel to build a 4x6 platform on Friday....ouch. 2 sticks 3/16 2X2 square , 1 stick 3/16 3x3 angle, 4 sticks inch and half angle and was almost $500!!
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Old 04-19-2021, 03:35 PM   #5
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Quote:
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They are inflated because orders are 6 to 8 months out.

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Old 04-19-2021, 04:09 PM   #6
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I bought just enough steel to build a 4x6 platform on Friday....ouch. 2 sticks 3/16 2X2 square , 1 stick 3/16 3x3 angle, 4 sticks inch and half angle and was almost $500!!
Man, that is nuts! I knew it was high. . . but not that high!
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Old 04-19-2021, 04:16 PM   #7
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Why is metal so high/going higher?
China buying it all up?
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Old 04-19-2021, 04:51 PM   #8
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Supply is very low. Demand is very High
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Old 04-19-2021, 04:57 PM   #9
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Lumber is around twice as much too.
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Old 04-19-2021, 04:58 PM   #10
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I'm in the middle of a house build right now. Vendors quotes are good for 5 days at best right now on all materials

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Old 04-19-2021, 05:02 PM   #11
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Man, that is nuts! I knew it was high. . . but not that high!
Yep and this was at Steel Supply in northwest Houston where we have an account. They are not a small outfit and usually in line with triple S.
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Old 04-19-2021, 05:16 PM   #12
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Yep and this was at Steel Supply in northwest Houston where we have an account. They are not a small outfit and usually in line with triple S.
Does it take 30-45 minutes to get to the front of the que like Triple S?
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Old 04-19-2021, 05:34 PM   #13
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Quote:
Originally Posted by RWB View Post
I bought just enough steel to build a 4x6 platform on Friday....ouch. 2 sticks 3/16 2X2 square , 1 stick 3/16 3x3 angle, 4 sticks inch and half angle and was almost $500!!

3/16!! Holy smokes.


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Old 04-19-2021, 05:43 PM   #14
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Quote:
Originally Posted by RR 314 View Post
Man, that is nuts! I knew it was high. . . but not that high!
Yep. When I brought up how high it was a couple months ago I was told by resident experts I didn't know what I was taking about.

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Old 04-19-2021, 05:44 PM   #15
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Quote:
Originally Posted by sqiggy View Post
Why is metal so high/going higher?

China buying it all up?


Inflation

Our govt is printing money like a drunk sailor , usd is being devalued
Itís going to get worse


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Old 04-19-2021, 05:45 PM   #16
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Quote:
Originally Posted by redfishted View Post
We are currently running 60 days on coil stock.
We need to be calling you.

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Old 04-19-2021, 05:47 PM   #17
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Yep. When I brought up how high it was a couple months ago I was told by resident experts I didn't know what I was taking about.

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Now thatís not true or accurate
You said it was expensive then because
Of trumps trade policy
Now you can see it wasnít expensive, comparing prices today to just a few months ago, and Trumps policy actually had prices stable to down.



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Old 04-19-2021, 06:23 PM   #18
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Lumber is around twice as much too.
Maybe even 3x or 4x to be honest.
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Old 04-19-2021, 06:53 PM   #19
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Quote:
Originally Posted by redfishted View Post
If you need something you better buy in now, increases coming between now and August are insane.
How would you know the prices in August? Futures markets?

Can't mean prices will for sure be that much higher..or you'd go buy all the money you have in steel today and sell in August, right?
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Old 04-19-2021, 07:08 PM   #20
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Maybe even 3x or 4x to be honest.
Yeah, thatís what my numbers are looking like. 4x year over year.
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Old 04-19-2021, 07:14 PM   #21
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Quote:
Originally Posted by OldRiverRat View Post
Inflation

Our govt is printing money like a drunk sailor , usd is being devalued
Itís going to get worse


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That's their plan. Trying to integrate that one world order.
Start with leveling the field, have a one world currency, one ring to rule them all.

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Old 04-19-2021, 07:15 PM   #22
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Quote:
Originally Posted by OldRiverRat View Post
Now thatís not true or accurate
You said it was expensive then because
Of trumps trade policy
Now you can see it wasnít expensive, comparing prices today to just a few months ago, and Trumps policy actually had prices stable to down.



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His policy is what skewed it in the first place. Covid has made it worse.

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Old 04-20-2021, 03:33 PM   #23
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Originally Posted by kmitchl View Post
Does it take 30-45 minutes to get to the front of the que like Triple S?
Not at all normally I am in and out. The wait and customer service is why I moved from Triple S and so far the pricing has been in line.
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Old 04-20-2021, 04:20 PM   #24
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Not at all normally I am in and out. The wait and customer service is why I moved from Triple S and so far the pricing has been in line.
Good to know. Closer to me and I'm sure in a better neighborhood. Do they keep any stainless or aluminum - you know the stuff that is really gold plated?
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Old 04-20-2021, 07:56 PM   #25
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Originally Posted by RWB View Post
I bought just enough steel to build a 4x6 platform on Friday....ouch. 2 sticks 3/16 2X2 square , 1 stick 3/16 3x3 angle, 4 sticks inch and half angle and was almost $500!!
Wowza!!!
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Old 04-20-2021, 07:57 PM   #26
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Quote:
Originally Posted by MnM View Post
Lumber is around twice as much too.
Tell me about it! Building our house is ridiculous!
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Old 04-20-2021, 10:14 PM   #27
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[QUOTE=RiverRat1;15578307]How would you know the prices in August? Futures markets?

Can't mean prices will for sure be that much higher..or you'd go buy all the money you have in steel today and sell in August, right?[/QUOTE

My original post was in relation to the prices we are being quoted through Aug, our increases probably average about 12-15% per month for deliveries each month through Aug. Our supplier is in allocation, so buying more is not an option. I have a lot of theories but there all just theories, I have been told that mills are only running at 70% capacity, not sure if thatís Covid related or if they are intentionally keeping supply down, at some point soon. I would think the increase in price will make it such that it is worth Chinaís effort to send their steel here and pay the tariff. In response to that I would think our mills would stop the run up short, I would think they have nothing to gain by running it up to a point where China get back in the game, if they do they could easily make up the deficit in supply.
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Old 04-21-2021, 12:35 AM   #28
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I was looking at a midsize building, a kit sort of and the base was 5500 or thereabouts.
After reading the OP, I went a re-checked. now a 1105 "Manufactures" add on is there so it's 6600+.
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Old 04-21-2021, 08:09 AM   #29
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I sell pre-painted steel coil. I would love to go and buy a bunch of material on position right now but it is not out there to buy on the ground. Last night I sent a small inquiry (22 truckloads) to Belgium, Turkey, Taiwan, and Korea. None have given me a price indication yet but they are indicating October/November arrivals! It’s not even about price for a lot of products, it’s “can you get the allocation?”

We are seeing the effects of hyperinflation on all hard commodities/assets. Steel, lumber, real estate are all in short supply and it does seem to be getting worse.
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Old 04-21-2021, 08:13 AM   #30
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We buy over 3,000,000 pounds of flat stock a month at my company and were 12 weeks for delivery straight from the mill. They are blowing full throttle and the global demand is through the roof. The construction market globally is as good as it gets right now.

Turkey is buying an insane amount of raw material for rebar production.
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Old 04-21-2021, 08:45 AM   #31
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I'm in industrial electrical equipment supply. We have a shortage of PVC materials right now not just conduit but panels breakers contacts anything made with pvc resin. The shortage is due to the hurricanes that hit Texas and Louisiana last year and the mandated covid shut down. Steel prices go up weekly, copper prices are higher than I have ever seen them. Crouse Hinds fittings is about to raise prices again for the third time this year, same thing with our strut manufacturer. Hold on folks I'm afraid we are in for a bad economic crash in our near future.
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Old 04-21-2021, 09:06 AM   #32
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I'm in industrial electrical equipment supply. We have a shortage of PVC materials right now not just conduit but panels breakers contacts anything made with pvc resin. The shortage is due to the hurricanes that hit Texas and Louisiana last year and the mandated covid shut down. Steel prices go up weekly, copper prices are higher than I have ever seen them. Crouse Hinds fittings is about to raise prices again for the third time this year, same thing with our strut manufacturer. Hold on folks I'm afraid we are in for a bad economic crash in our near future.
Sadly, I think you are correct. I think we are feeling the tremors of a big one right now.
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Old 04-21-2021, 11:52 AM   #33
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Quote:
Originally Posted by sqiggy View Post
Why is metal so high/going higher?
China buying it all up?
Amazon bought a ton of steel to build out their new distribution centers all over the country. Couple that with COVID, and manufacturers can't keep up.

Last edited by captainsling; 04-21-2021 at 11:56 AM.
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Old 04-21-2021, 11:56 AM   #34
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Amazon bought all the steel to build out their new distribution centers all over the country.
As a warehouse developer. This is in fact partially true. Amazon hedged against the rising tide of commodities pricing and bought joist and deck in bulk and storing in existing warehouses for future use.

Already started to see deals getting killed over steel. Will come back down a bit by end of year IMO
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Old 04-21-2021, 11:59 AM   #35
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I heard through suppliers that US Steel bought a few mills and will now only sell to large union contracts. That leaves the service centers out in the cold and they have been scrambling to find sources. Don't know how true that is however. What I do know is steel prices went from .35/pd to .70/pd literally overnight a couple months ago and have been slowly creeping up since. We were quoted $1.12/pd last week, but I don't know if we'll take that offer or not. It's probably up to $1.20 now. Pricing on everything is going up. Lumber, steel, food, gas. Massive inflation, covid, poor government policy. I have a feeling that it may be something even more sinister in the background. It's a bubble that has to pop eventually, right?
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Old 04-21-2021, 12:08 PM   #36
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Last September you could buy 3 5/8" 20ga metal studs at about 26 cents a LF. Right now it's selling for 60 cents. And we have 10/20/10% increases coming the next 3 months. Already seeing jobs going offline because owners are balking at the steel costs..
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