The Price of Steel - Where's the Bottom?

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Pricing over the last year.Steel prices have been dropping all year, but they're bound to rebound at some point in the future.  I don't know a thing, really, about what determines the pricing changes.  But if I'm going to spring for piece of 1" plate for a welding table, I'd like to know when the best time to buy it is going to be.  Anyone out there have more of a clue about pricing trends than me?As a reference, I just got quoted $254 for a piece 24"x60"x1".
Reply:i don't know when steel prices may bottom out but HOLY SMOKE MAN, that sounds like one heck of a table! what are you gonna work on on that table -- just about anything you want to, right?
Reply:as a vendor for all of the steel companies, I can offer that 400 per ton sales price is just barely making money for the mill. and they are just now increasing from that price point as all of the distributors are running out of inventory and starting to restock. Inventories are at  a10-12 week level a low not seen since WW2if i was buying I would be doing it now. and i just spent 900 on material for a new utility trailer.insert 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:Unless I'm wrong,  I think you missed bottom man.Prices are starting to climb again around here.Just bought a bunch of stuff, and they banded it, and tagged it as sold, and it's sitting on another shelf.  New stuff coming in is gonna be higherIt's a small town, and the guys will work with you."Any day above ground is a good day"http://www.farmersamm.com/
Reply:I'm afraid that holding out for any more drop before pulling the cord, could cause a splat.
Reply:wait till you get the bill from yer friends who help lift that sumbeech.408lbs1" probably over kill for you Jack.You could get away with 3/8"Ed Conleyhttp://www.screamingbroccoli.com/MM252MM211 (Sold)Passport Plus & Spool gunLincoln SP135 Plus- (Gone to a good home)Klutch 120v Plasma cutterSO 2020 benderBeer in the fridge
Reply:....Well....here in N. California, right now...August-09.....HRS shapes and most plate....70-95 cents a pound....at one time I had a 5X10 foot-1" table and a 4X8 foot by 2" table...2" table was blanchard ground, drilled/tapped for 1/2-13.... for making good fixtures on....back in the 1980's.....HRS steel was around 20-22 cents a pound...plate about 19-20....  A suggestion on the top....do not weld it.....any welding will distort...even on the 1" plate....I like to drill/tap and bolt from the bottom....make a nice sturdy well supported base frame...3X3 or 4X4 X 3/8" angle....some adjustable feet for leveling....make the angle frame 3-4" less on each side/end for clamping stuff later....I guess you'd call that 'overhang'....  I made 100's of wood burning 'stoves'.....needed a sturdy table that would support 400-500 pounds, not scoot around the floor....5X10 footer allowed making all kinds of stuff out of the common 4X8 sheets/plates, and various tubular frames... with some room around the edges....  ....Doug....Dougspair