Steel prices on the rise, welders feel the pinch

According to the Oxford, MS Sun Herald, steel prices are set to rise for the next few months. The paper says that "Stock market investors are speculating that mills may institute a $10 to $30 per ton price increase this month, according to the online business-news service briefing.com. In the Gulf Coast region, the demand is high for the building material because of back-to-back busy hurricane seasons."

Steel is vital because it's a key building material for casino resorts, bridges, high-rise condominiums and concrete houses.

For welders, fabrication shops and metalworkers - not to mention the companies that hire them - this is a significant issue. Rebuilding from Hurricane Katrina (and the busy preceding hurricane season), low inventories, and global demand are driving supplies down and prices up. It's going to cost more to build things, and that will affect how many projects are available to welders and fabricators.

We'll keep an eye on it...