Are Steel Prices Down?

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Hey all you fabricators out there, anyone know if steel prices are down right now? Seems like I heard that somewhere.I've got a couple decent-sized projects I've been wanting to do that I've back-burnered for a while, and if steel is cheap right now, I'm thinking it might be time to put in an order.Thanks.
Reply:I know scrap is WAY down.I don't know about new steel- haven't had a need to buy any lately.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:Scrap is not worth even taking in.Economy is crap. I don't know what the steel prices are though.
Reply:That's no joke there Mike. It's ridiculous right now.I did pick up two 20' lengths of 2" X 2" 3/16" angle for about $36 each. The scrapyard wanted more for their new stock.I'm quite sure that's less than it was a year ago. I remember when the same piece of steel used to be about $12-14 bux.Still, it's at least affordable now. Fortunately useable scrap (for purchase) is still around .40 cents a pound, which is a lot better than a lot of places.IMHO of courseExpert Garage Hack....https://www.facebook.com/steven.webber.948
Reply:Originally Posted by 7A749That's no joke there Mike. It's ridiculous right now.I did pick up two 20' lengths of 2" X 2" 3/16" angle for about $36 each. The scrapyard wanted more for their new stock.I'm quite sure that's less than it was a year ago. I remember when the same piece of steel used to be about $12-14 bux.Still, it's at least affordable now. Fortunately useable scrap (for purchase) is still around .40 cents a pound, which is a lot better than a lot of places.IMHO of course
Reply:Originally Posted by bigcreekOh ya steel prices are way down. I am buying my steel in the 40 cent range, some in the high 30 cent range for new steel, whereas at the peak I was paying in the 60's and 70's cents per pound.
Reply:Originally Posted by bigcreekOh ya steel prices are way down. I am buying my steel in the 40 cent range, some in the high 30 cent range for new steel, whereas at the peak I was paying in the 60's and 70's cents per pound.
Reply:Import plate .25/lb bridge pl. 34lb.50w cvn tested beams .55/lb.cheap and no demand thank you ny Hudson Yards 100000 tons none made in USA. ! Port Authority and MTA no buy American.
Reply:How about steel building components?Such as roll-formed light-gauge shapes, Cees, Zees, etc.Deck and  roof and side-wall panels.Their pricing sure shot up fast on steel's upswing, now what's with the disconnect?
Reply:I know scrap is bringing around $3-4/100 lb right now, down from a high of around $12/100 earlier in the year.  We have two salvage yards in town, both pay the same out, but sell their stuff for completely different prices.  The larger of the two is flat out loaded with good steel, and sells for $0.30/lb.  The smaller of the two, which doesn't have really much of anything on hand, sells for $0.10/lb.  Just about everything they get stays just long enough to get it loaded on a scrap trailer, and its hauled off.  I usually check it a couple times a week, as they do get some pretty good stuff from time to time.  Lately, I've been buying up pieces of stainless for $0.50/lb, and have accumulated a decent amount of stuff.  I now have enough 6" 304 pipe to run a vent from my wood burning stove and never have to worry about it rusting...even picked up a 6" 90* long throw elbow for $6 (weight was 12 lbs).  No telling what that thing cost new!  They had a 2x3' piece of 1" thick stainless plate that I almost bought, until I saw it was over 100 lbs and was going to cost $50.  It would have been neat to have, but not $50 neat.
Reply:Originally Posted by PavinsteelmanImport plate .25/lb bridge pl. 34lb.50w cvn tested beams .55/lb.cheap and no demand thank you ny Hudson Yards 100000 tons none made in USA. ! Port Authority and MTA no buy American.
Reply:No they are putting 100000 tons in one building, 80000 from Corey in Mexaco ,10000 ADF in Canada 10000 from Chimala in Italy. Erected by W W Steel Erectors. Hauled by us Harris Camden Trrminal Co.
Reply:I was offered 39.00 per long ton for my scrap week before last by Progressive Steel Processors.   They are owned by Caterpillar.   Not sure what they were going to charge for picking up a container of scrap steel.  Last time it was $200.00 fee that  one of the other yards wanted for hauling.  Richey
Reply:Thanks for the replies, fellas. Glad to hear it.
Reply:Fabricated steel has not gone down here hardly at all. There are not many fabricators left that can do the bigger jobs and they have been holding their prices. With low fuel prices one would think the iron range would be booming but just yesterday another 200 mine worker layoff anounced in northern MN.
Reply:Was going to say I hadn't noticed any price declines in the new metal I'm purchasing, but I'm paying full retail. My neighbors were getting up to $240/tonne for scrap over a year ago, but it's down around $100/tonne now. For them to go into a yard and pick it up, it would obviously be much less to the customer.250 amp Miller DialArc AC/DC StickF-225 amp Forney AC Stick230 amp Sears AC StickLincoln 180C MIGVictor Medalist 350 O/ACut 50 PlasmaLes
Reply:Scrap is down, new steel prices arnt.     IF you read the trades theres a glut of capacity in the steel mills right now and theyre running at 60% capacity nationally here in the USA.  but steel prices do not reflect that.Vantage 500's LN-25's, VI-400's, cobramatics, Miller migs, synch 350 LX, Powcon inverters, XMT's, 250 Ton Acurrpress 12' brake, 1/4" 10' Atlantic shear,Koikie plasma table W/ esab plasmas. marvel & hyd-mech saws, pirrana & metal muncher punches.
Reply:Scrap dealer buy prices here have steel scrapping no longer worthwhile to the area meth heads.....Yet the same recycler's  scrap selling prices have remained high, yet not nearly as high in comparison to new steel prices as they were when he bought those acres of scrap steel.I last week went to the recycler yard to shop scrap HRS 2X2X 1/8" angle iron.....Hell, his prices for new was only 25 bucks/20' stick, so I bought the new stuff in full sticks.I noticed his yard was mostly full of scrap he bought at the older, higher prices, so I understood why he was demanding the old prices for it. He is for now stuck with it waiting for mill demand for scrap steel to recover....Which it will not anytime soon....And the mills are presently selling new stuff close to what he paid for the scrap stuff.His stock of new stuff is steel he recently bought at lower prices, so he can sell it with just routine markup cause it moves fast.....(in this area)This whole steel price for new or scrap steel, is a situational/location thing...Just depends on your area and supplier....at the moment.Last edited by wornoutoldwelder; 11-20-2015 at 12:52 AM.
Reply:The metals market today, and for quite a while is/has been rather volatile....Even gold and Silver.Experienced metal consumers here on this forum have seen the past rapid increase in both new and scrap metals that until now both rose together....But now we(if we are paying attention) see scrap buying prices dropping off a cliff, while new metals too are dropping in price, but new not as quickly as old (in most markets).Depending on your area and your supplier, you might not yet have noticed the recent huge drop in material costs....If your supplier has acres of new materials he purchased at the old higher prices, then he simply cannot discount them to reflect new prices....If however, he is a high volume, low inventory sort, then he can offer you materials close to the latest prices.I have been a very active, successful and aggressive market investor for almost 20 years, but I have NEVER risked a penny in the metals markets....I do however consume certain metals where I understand and can predict prices based on supply and demand....Metals are not like other consumables....We don't eat metals, so their demand and prices rise and fall in reaction different to other consumable commodities.Metals are also different in that most of them can be recycled, whereas Wheat cannot...but Wheat will forever remain in demand, whereas metals are only in demand when an economy is sloping upwards....and it's only in an upward sloping economy that metals can be produced cheaper(and priced higher) that recycle prices increase, because we need new metals faster than we can recycle them, so production goes up with price increases as production costs decreases, and so follows scrap prices....And yeah, I said that then metals can be produced cheaper, but they can then demand a higher price when the world is building stuff...lots of stuff.....but not war stuff.
Reply:Scrap is down. Prices at the local metal mart have not changed for quite some time.I am in the middle of no where with one location to buy new metal, so if you have more than one metal store and they compete with each other then I don't see why prices wouldn't be down.old Miller spectrum 625 Lincoln SP-135 T, CO2+0.025 wireMiller model 250 and WP-18V torchCraftsman 100amp AC/DC and WP-17V torchCentury 115-004 HF arc stabilizerHome made 4 transformer spot welderHome made alternator welder
Reply:Metal framing studs are down around here and compared to wood price is a better deal. Scrap is hi at $0.70/pound.The stock price for us steal is also at a low. I think I read it has something to do with the supply from China flooding world markets.http://finance.yahoo.com/q?s=x
Reply:Originally Posted by old-iron-habitFabricated steel has not gone down here hardly at all. There are not many fabricators left that can do the bigger jobs and they have been holding their prices. With low fuel prices one would think the iron range would be booming but just yesterday another 200 mine worker layoff anounced in northern MN.
Reply:Originally Posted by whtbaronWas going to say I hadn't noticed any price declines in the new metal I'm purchasing, but I'm paying full retail. My neighbors were getting up to $240/tonne for scrap over a year ago, but it's down around $100/tonne now. For them to go into a yard and pick it up, it would obviously be much less to the customer.
Reply:down .05-.10 depending on the shape and when milled. Some research will show a connection between China steel pricing and a drop here in the USA. Fuel pricing has helped.
Reply:Originally Posted by 7A749That's no joke there Mike. It's ridiculous right now.I did pick up two 20' lengths of 2" X 2" 3/16" angle for about $36 each. The scrapyard wanted more for their new stock.I'm quite sure that's less than it was a year ago. I remember when the same piece of steel used to be about $12-14 bux.Still, it's at least affordable now. Fortunately useable scrap (for purchase) is still around .40 cents a pound, which is a lot better than a lot of places.IMHO of course