125% in one year?
good GOD!
justified by what, energy costs for refinement and logistics???
Steel prices have gone up so much that there is big money to be made in scrap metal, to the point that meth-heads in my part of the country (Portland, OR) are going out to highways and stealing roadsigns to turn in for drug money. It's crazy.
>>125% in one year?
>>
>>good GOD!
>>
>>justified by what, energy costs for refinement and logistics???
Supply and demand. Econ 101.
Big chunks of China and India are becoming "middle class". This drives a lot of steel demand.
Bush was attempting to protect the steel industry by slapping a large tariff on steel. It has backfired.