Steel Prices May Rise Despite Declining Demand

Tampa Bay Online (tbo.com)
Businesses that use steel for construction and other projects will continue to face high prices during the first half of 2008, despite a continued decline in housing and automobile demand that theoretically should begin to bring prices down.
That was the general consensus among steel industry and government trade officials who spoke Friday at the 19th annual Tampa Steel Conference, which drew more than 400 participants to the Tampa Marriott Waterside.
The price for a ton of cold-rolled steel coil, which now is about $752 in North America, could rise to $900 by April or May, said Tom Stundza, executive editor of the trade journal Purchasing Magazine. However, conference participants expected the high prices would begin to abate by midsummer or soon thereafter.

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