The Price of Steel

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Has anyone seen the price of steel come down yet?  It hasnt seamed to change in my area.  I have some non critical projects I want to do.  I just wanted to see what people are experiencing. Thanks
Reply:i got some steel the other day and was shocked at the price of it.  total rip off.  Will it ever go down?www.dynamitedave.com
Reply:That little bit of crap I got in the back of the pickup cost $145.  That's out and out bull###t!When we quit buyin' the price still might not go down I'm afraid.  They'll lay everybody off and reduce production and give us the same old bull.  Short supply----High Price."Any day above ground is a good day"http://www.farmersamm.com/
Reply:Wait untill you go to buy some stainless
Reply:We may (should) see steel prices start to come down as those stocks that were produced while fuel prices were so high are used up.  It'll take awhile though for things to 'trickle down' - if in fact it does.  But then, who would have thought we'd see gas below $1.40/gallon?MM200 w/Spoolmatic 1Syncrowave 180SDBobcat 225G Plus - LP/NGMUTT Suitcase WirefeederWC-1S/Spoolmatic 1HF-251D-1PakMaster 100XL '68 Red Face Code #6633 projectStar Jet 21-110Save Second Base!
Reply:My suppliers sheet and plate prices are easing down.  He said that the tubing prices weren't coming down yet on steel mill side yet.Esab Migmaster 250Lincoln SA 200Lincoln Ranger 8Smith Oxy Fuel setupEverlast PowerPlasma 80Everlast Power iMIG 160Everlast Power iMIG 205 Everlast Power iMIG 140EEverlast PowerARC 300Everlast PowerARC 140STEverlast PowerTIG 255EXT
Reply:Originally Posted by Priority weldingWait untill you go to buy some stainless
Reply:Originally Posted by BurnitThe last project I was on was all stainless, we spent around 25K on filler metal
Reply:what others said until inventories come down the price wont. they paid alot for what they have on hand.bad thing is with little or no orders the mills are not making very much so buy the time the inventories go down the mills will be swamped in orders and the price will climb back up.the smart stokist is ordering buy the truckloadinsert thoughtful quote from someone else2000 Thermal Arc 300GTSW 3.5 hours1946 Monarch 20 x 54 Lathe1998 Supermax 10x54 Mill2004 Haco Atlantic 1/2" Capacity Lasernot mine but i get to play with it
Reply:As a rough rule of thumb, for the last year or so, I've been figuring steel at a dollar a pound.That being said,,,,,,  being in business, the higher MY cost of steel, marking up the same percentage, whether the stuff is in stock, or I have to order it, creates more dollars in my pocket.AGAIN,,,,,,   being in business,,,,,   and being one of the bad, nasty, profiteers around,,,,,,,  EVEN, if I've held something in stock for twenty years, bought at 20 cents, I'm more than happy to sell it today at $1.00 +.  If I bought a piece of steel yesterday, at $1.00/pd, and sold it next week, at $1.30 a pound, does this make me a bad person?????    No, it makes me a good businessman.  If the price is rising,,,,,  yes, I'm not stupid,,,,,   I'm gonna call and find out the current price, and mark THAT up, why the hell should you profit from my foresight?????   If the price is falling,,,,,  of course,,,,,  I'm gonna try to get my investment back, plus all the potential profit I can .......    after all, I did have the material sitting here, ready to use on YOUR project.Your steel supplier is in the same position,,,,,   and HIS supplier is also in the same position,,,,,   and so on and so forth.Thus, the price rises faster than it falls.  Simple economics, simple looking out for my own interests.   Of  course, unless you're dealing with something that has limited storage capabilities, or live in a socialist/communist country .....
Reply:I hear what you're saying mark8310.When metal prices were climbing faster than you could say "price please", quotes from one of our mild steel suppliers was only good for 24 hours!  Pretty hard to price/quote jobs with things like that.MM200 w/Spoolmatic 1Syncrowave 180SDBobcat 225G Plus - LP/NGMUTT Suitcase WirefeederWC-1S/Spoolmatic 1HF-251D-1PakMaster 100XL '68 Red Face Code #6633 projectStar Jet 21-110Save Second Base!
Reply:I talked to a distributor the other day who told me that it would come down, but be prepared to wait until March or so before you see the prices start dropping.I'm a Lover, Fighter, Wild horse Rider, and a pretty good welding man......
Reply:Originally Posted by duaneb55I hear what you're saying mark8310.When metal prices were climbing faster than you could say "price please", quotes from one of our mild steel suppliers was only good for 24 hours!  Pretty hard to price/quote jobs with things like that.
Reply:I guess we're all tied into the commodity market in some way.Cattle are wierd.  They're more of a long run kind of thing.  You really can't cut the herd because there's a short term downside price because if you do you're stuck having to rebuild the herd at the higher price when things get good, and demand goes up.All I know is that they gotta be fed no matter what"Any day above ground is a good day"http://www.farmersamm.com/
Reply:Thanks everyone for the feedback on this.  After all this is the bloodline of this business/hobby.  I am going to wait until March (with eyes and ears on prices) and see what the prices are then.  I do sympathize with those that have to make a living in this industry.  I am a hobbyist at home, but am in the vehicle and equipment repair business.  Our in-house bodyshop occasionally needs to restock and it isn’t cheap.  On our buses some of the steel needs to come from Canada because of its metric sizing.
Reply:I bought some 2x4x1/8 tubing today and called about 10 different shops.  It ranged from 4.98/ft to 2.28/ft.I was quoted 2.55/ft for 1.25" 1/8" wall tubing also, this is about the same price I got 2 years ago, it looks like some places are coming down and others aren't.  The place that had it for 2.28 orders as you need and was by far the cheapest, lucky for me another place that had it in stock came down to 2.50/ft so I just got it from there.
Reply:Something has to give.  If you're a pro, your customers are hurting, and it costs you business to pass along the price. If you're like me, it's just plain ol' dollars and cents, you don't have the money"Any day above ground is a good day"http://www.farmersamm.com/
Reply:While I was still "full time" I wouldn't quote any job until I checked steel prices that day.  Didn't matter if I had the steel in the barn, I still checked.Here's how I sold my steel.  Most suppliers sell by the #.  I made up a book with my steel prices, sold by the FOOT.   I would convert what I paid per foot weight, then DOUBLE that amount.  That was my selling price per foot.  The only time I lessened that figure was on large fabrication jobs, then I only added 50% to my cost of the steel.Also, on bid jobs, I had a policy that I receive 50% of the total bid (less taxes) up front before I'd even order the material.  And then, I'd only honor that bid for 7 days.
Reply:Two days ago the guys told me that they are dropping prices as they replace things, but the current inventory was expensive. Lots of volatility in the market of late. We live in interesting times...
Reply:I was surprised a couple of weeks ago when I picked up dome 1.75 od DOM roll cage tubing.  For the first time in over 2 years the price had come down a little instead of going up.  The price on this tube had gone up steadily every 2 weeks the last year alone, so a drop when I was expecting another rise was a real shock!  Oh, and my supplier on this stuff must buy it often - it usually has a date from the mill on it that is no more than a month prior to when I get it.
Reply:News from my LSS: Come see him after the first of the year...Esab Migmaster 250Lincoln SA 200Lincoln Ranger 8Smith Oxy Fuel setupEverlast PowerPlasma 80Everlast Power iMIG 160Everlast Power iMIG 205 Everlast Power iMIG 140EEverlast PowerARC 300Everlast PowerARC 140STEverlast PowerTIG 255EXT
Reply:Originally Posted by Hammack_WeldingI talked to a distributor the other day who told me that it would come down, but be prepared to wait until March or so before you see the prices start dropping.
Reply:I have already seen a nearly 20 cent/# drop on some flats and angles. Tube is much the same and sheet has dropped a dime/# ...and this was in Nov. Dec. was much the same.QamuIs Heg qaq law' lorvIs yInqaq puS
Reply:Originally Posted by 02RedWS6TAI bought some 2x4x1/8 tubing today and called about 10 different shops.  It ranged from 4.98/ft to 2.28/ft..