Price of steel

It’ll go down in about a year. Maybe....
 
Ha, funny you should ask. I ordered my Limo Jr the other day, and the next day both the Southern Q smokers went up 200 dollars on the website. Talk about getting in under the wire. But you can't blame the fabricator, just like anything else, business costs are passed on to the buyer. We just put in a pool as well, and the pool company owner told him his kits have gone up 30% due to the rise in steel
 
Ye$, it $ure will. I was going to order a new truck this year.... Maybe now I'll wait for 2022.
 
I bought a used 2018 Lariet with 46k miles on it last spring( they weren't selling any trucks), it is now worth 8k more than I gave for it and I put 30k miles on it.:roll:

Was that a half-ton with the aluminum body?
 
Any rise in commodities is going to be passed on to the consumer unfortunately. Its been happening with a lot of stuff as the global economy starts moving in some fields while 'log jams' in others. Currently there is a mad rush for refined silicon & manufactured chips causing all sorts of issues along with price increases. :/ Meat is also undergoing price changes due to increased demand - even with a rise in supply. More people are buying now compared to last year. It's more than just the US having these issues.
 
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I sell steel buildings for a living. It is still going up, internally in our company we think that will continue right through the summer and hopefully stabilize in the fall / new years time. We are also 6 months out on deliveries, 4.5 longer then normal. If you can wait, wait. Pricing is out of control at the moment.
 
Check out the price of Nucor's stock the last couple of months...
 
I checked the LSG website this morning and the 24x40 I ordered last month is up $400. Some cabinets had even higher increases. The 1/2" firebox is up $100.
 
I checked the LSG website this morning and the 24x40 I ordered last month is up $400. Some cabinets had even higher increases. The 1/2" firebox is up $100.


Was about to pull the trigger on one of their pellet grills (I’m on the waitlist). But, the prices jumped in the last couple days. Making me rethink the purchase.


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I wouldnt buy anything not needed right now. IMO its the time to save. All markets are crazy right now and its only going to get worse. Prices are through the roof, lead times are nuts, and at least in my state business is running 150%-200% above budget. Nothing really makes sense and when that happens bad things usually tend to happen.
 
I wouldnt buy anything not needed right now. IMO its the time to save. All markets are crazy right now and its only going to get worse. Prices are through the roof, lead times are nuts, and at least in my state business is running 150%-200% above budget. Nothing really makes sense and when that happens bad things usually tend to happen.


Do you think pit prices will come back down when the commodity prices come back down? I can’t see that happening. My worry is not buying now, prices continuing to go up, and prices never coming back down.


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i can tell you steel is insane.... which affects everything..... a order we commonly make on trailer parts increased 2000$ from the previous order.... a sheet of 11 gauge plate is up well over 150%.... stainless plate went up 350$ a sheet from where it was a few months ago.... i keep saying it and it will happen.... this crap is fixing to pop like the biggest pimple you have ever seen.... there is no way it can continue.... i have spoke with customers and offered refunds on deposits if they do not want to accept some of the cost ..... i can fish and not make money... we have tried to be as fair as we can and as of now i have not had one complaint.... in fact just the opposite much understanding..... i guess the reason being is in some way, form or fashion it has touched everyone.... i look for the housing market to go fubar before long .... but who am I... just an old red neck country boy with some street smarts i spose!!!!!!
 
I wouldnt buy anything not needed right now. IMO its the time to save. All markets are crazy right now and its only going to get worse. Prices are through the roof, lead times are nuts, and at least in my state business is running 150%-200% above budget. Nothing really makes sense and when that happens bad things usually tend to happen.
Have money-marketed my 401k funds for the time being. There's a readjustment coming.
 
Do you think pit prices will come back down when the commodity prices come back down? I can’t see that happening. My worry is not buying now, prices continuing to go up, and prices never coming back down.

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TuscaloosaQ has his finger on that pulse and if their shop is quoting based on market pricing (some suppliers with hold a price for a few days) their prices are realistic. As prices increase or decrease, they will likely adjust their pricing. Some of my customers used to stockpile common grades and thicknesses of plate steel until the demand for surface mining equipment dropped off. Now, they get a quote for most jobs and some do progressive invoicing.... like 30% when materials arrive and a sliding scale during construction.

Have money-marketed my 401k funds for the time being. There's a readjustment coming.

I went to 70% cash in 2009, but since then we've had 12 years of gains, so I'm mindful of these dips in the last year or so. One thing I did about 10 years ago in my IRAs was getting out of bonds altogether. Instead I used CD ladders, and it's worked out great until those rates fell. I still have some 3% and 4% coupons waiting to mature in 2023, but even rolling them is a little better than MM rates.

My brokerage account is another story, if I went to cash the capital gains would be horrible.
 
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