911!!!

[Lis2323]

I needed a small order of misc steel to have on hand for my little projects.

I thought some might to see how far your dollar goes when purchasing steel these days.





And here's a couple of pics showing how us old farmers handle 20 foot lengths by ourselves.









The $911 total was inclusive of truck charge and taxes.


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[Sberry]

Actually thats not bad.

[smithdoor]

In 2018 I paid under $0.50 per pound for steel angle.
I would in 2000 buy 40,000 pounds of 8" channel for less that $0.25 per pound.

Dave

I needed a small order of misc steel to have on hand for my little projects.

I thought some might to see how far your dollar goes when purchasing steel these days.





And here's a couple of pics showing how us old farmers handle 20 foot lengths by ourselves.









The $911 total was inclusive of truck charge and taxes.


Sent from my iPhone using Tapatalk

[farmersammm]

I won't pay what they're asking nowdays. Period. I can do without it, they gotta sell it or go out of business. Guess who comes out on the winning side. This does not look good going forward.

[mla2ofus]

The law of supply and demand is still in effect.

[farmersammm]

When I was putting out the requests for bids on the pipe, I asked one dooooood if they were selling as much as they were before. He was honest, and said no.............but he claimed they were making as much on the reduced sales as when the price was lower. I tend to disbelieve that . BTW............this was a company that had NEVER sold retail. The're getting desperate if they're giving retail quotes.

[smithdoor]

Yes
Stock up in low price days. The when costumer needs steel it is the new price.

Markup 2 x price increase 3.22
What paid for steel $0.43 × 6.44 now selling steel for $3.50 per pound that works for me.

Dave

The law of supply and demand is still in effect.

[farmersammm]

You know...........something I didn't think of till this morning.......

Being as you're in Canada, I'm wondering where the steel is coming from. United States, or China?

If it's coming from China, it shouldn't be subject to the tariffs we have here in the U.S. So........if the wholesalers are getting non tariff Chinese steel, you're getting raped.

[whtbaron]

Interesting question.... too bad steel isn't tagged like lumber. I'm not 100% sure, but I think the majority of the steel we buy here in the middle of the prairies is processed in Ontario. Out on the west coast where Lis2323 is buying there very well might be more Chinese influence in the industry, but a lot of supply chains are nation wide. I suspect a lot of low volume specialty items might come up out of the US, but like you say, tariffs, exchange rates and freight are going to make that an expensive option. I do know that a lot of our recycled metal is destined for US markets, so it's more likely to be moving south than north.

[farmersammm]

If you look at the tariffs, they were more protectionist than you might think. They favored historically unprofitable companies.

Nucor, pre tariff, was turning a profit. Mainly due to their willingness to modernize, and rely on more efficient process. https://www.macrotrends.net/stocks/c...cor/net-income

U.S. Steel meanwhile, didn't modernize, and refused to to invest in any capex. https://www.macrotrends.net/stocks/c...eel/net-income

If you look at the pre tariff years, so called "dumping" didn't have the effect on Nucor that it did on US Steel. Nucor held its own.

I'm sure I don't know the whole story, but looking at the numbers says something.

Another advantage (I think) Nucor has, is its locations in Southern non union areas. Although, it's hard to imagine that the labor quotient on steel is that high. Steel production is highly automated (except in legacy mills that are still in the Stone Age)

Anyways, it's food for thought.

[jpump5]

You know...........something I didn't think of till this morning.......

Being as you're in Canada, I'm wondering where the steel is coming from. United States, or China?

If it's coming from China, it shouldn't be subject to the tariffs we have here in the U.S. So........if the wholesalers are getting non tariff Chinese steel, you're getting raped.

I thought Canada produced a lot of steel.
Company I worked for bought truckloads of square tubing
marked “Canada”.

[Lis2323]

1/8" x 48" x 96" steel floor plate ( aka
checkerplate ).

$850 Cdn per sheet plus taxes.


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[whtbaron]

That's what I used on the ramp in the shop... I bought 3 sheets of it for $1200 2 yrs ago.

[Lis2323]

More than doubled!


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[smithdoor]

The only good news is you charge for increase in price. Maybe it will get silver prices.

Dave

More than doubled!


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[Lis2323]

The only good news is you charge for increase in price. Maybe it will get silver prices.

Dave

I totally agree. If one does not know how to “roll with the punches” they should not be in business.

Unfortunately I do piddly little projects primarily to amuse myself and pass the time


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[smithdoor]

In 2018 I purchased 1,000 pounds of steel . Just in case the price goes up {Like $0.10 pound} Todays prices I would believe would happen.

Dave

FYI I am retired now.

I totally agree. If one does not know how to “roll with the punches” they should not be in business.

Unfortunately I do piddly little projects primarily to amuse myself and pass the time


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[Sberry]

I just bought a sheet of 1/4 x 4 x 10, it was an experience. After the fact would have patched it vs replace. Thats why the not bad at todays price comment. Like Sam I been raping my junk pile lately.

[Fnord5]

I need a 4x8x¼ sheet of hot rolled ... Even with my shops discount it's still 500 bucks. (This is for a personal project)

[smithdoor]

I would shop around

Dave

I need a 4x8x¼ sheet of hot rolled ... Even with my shops discount it's still 500 bucks. (This is for a personal project)

[danielplace]

I need a 4x8x¼ sheet of hot rolled ... Even with my shops discount it's still 500 bucks. (This is for a personal project)

Oooooch !!!! Check this price. OMG before shipping.

https://www.onlinemetals.com/en/buy/...olled/pid/9610

[Country Metals]

I always stock up in December of 2019, I ordered 30 lengths of 2" square 1/8" wall and a lot of other stuff. Now with prices at 3x, I am so glad I sat in it for so long. Making good profits now.

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[Sberry]

I have a truck bed I was going to repair, I just didnt get to it and may now postpone it.

[Lis2323]

I just emailed my supplier's salesperson to tell him the young driver who delivered my order was just awesome.

Exceptionally professional and courteous. I find this so rare these days I make it a point to acknowledge when it happens.

The steel I received was "Taiwan and North American".


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[Lis2323]

Overall my angle iron was about $1.30 CANADIAN per pound before taxes and delivery.


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