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Article: Worries ripple over steel; Prices rising as supplies, foreign sources dwindle
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- February 21, 2008
- Author:
CopyrightCopyright 2008 The Milwaukee Journal Sentinel. Provided by ProQuest LLC. (Hide copyright information)
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Steel prices are rising amid tightened supplies and robust
overseas demand.
The worst-case scenario could be a repeat of 2004, when
manufacturers of many products, from automobiles to washing
machines, faced severe steel shortages and record-high prices.
That's not happening yet, but there's plenty to worry about,
according to some industry experts.
The price of hot-rolled steel, a product frequently used by metal-
product companies, has increased about 6% in the past two weeks.
Some steel suppliers will guarantee price quotes for only a short
period of time because they aren't sure what prices will be after a
few weeks.
Nationwide, there is less than a three-month supply of some
materials, ...