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Article: Supply shortages pushing steel to record high
- Article from:
- Sunday Gazette-Mail
- Article date:
- February 24, 2008
- Author:
CopyrightCopyright 2008 Sunday Gazette-Mail. Provided by ProQuest LLC. (Hide copyright information)
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MILWAUKEE - 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 percent in the last two
weeks. Currently, some steel suppliers will guarantee price quotes
for only a short period of time because they aren't sure what prices
will be after only a few weeks.
Nationwide there is less than a ...