MarketWatch reports:
The price of one common steel product -- hot-rolled coil
steel -- recently broke $1,000 a short ton, up 72 percent from its peak last
year, according to Citigroup. Cold-rolled steel has surged 62 percent to
$1,100 per ton.
"Prices had been creeping
up, and the creep has turned into a gallop in the last three months,"
said Kenneth Simonson, chief economist for the Associated General
Contractors of America.
There is almost no sector unaffected by this, from washing machines to cars to bridge and building construction.
Another angle for this story? : I posted a link...
