Monday, February 16, 2004
Buffalo News - Higher cost of steel scrap boosting price of finished steel: "Old appliances are among the sources of scrap steel, an ingredient that steel mills literally cannot get enough of these days.
Industry experts say China's thriving steel sector is a driving force. Many mills need scrap to make steel, and the Chinese plants are gobbling it up from the United States.
With the rise in demand, prices for steel scrap have soared 100 percent in one year, to $229 per gross ton, said industry newsletter Iron Age. In turn, some steelmakers are charging more for their products, in some cases with surcharges. "
Industry experts say China's thriving steel sector is a driving force. Many mills need scrap to make steel, and the Chinese plants are gobbling it up from the United States.
With the rise in demand, prices for steel scrap have soared 100 percent in one year, to $229 per gross ton, said industry newsletter Iron Age. In turn, some steelmakers are charging more for their products, in some cases with surcharges. "
