Now would be a good time to buy Steel

Just heard that RT (Rio Tinto) have put the price of Iron Ore up by
85% today.
Reading the news items related to this, it seems that steel prices for
August delivery will now go up anywhere between 25% - 40%.
Could be a good time to get that project material ordered.
Peter
Reply to
Peter Neill
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Jesus H Blair, I'm already paying £2,300/tonne for lengths of EN24T :-|
Mark Rand RTFM
Reply to
Mark Rand
Is that a metric tonne, a short tonne, or a long tonne?
Regards, Tony
Reply to
Tony Jeffree
Nah Tony it's one of those "new EU measures" a bl****y expensive tonne
I saw an interesting bit on TV the other day about how China buys it's copper oar these days - by the South American Mountain full - seems if you buy a whole mountain worth you can still get copper for $400 a ton?? economy of scale I guess
Any scraps of steel to spare gov?? A couple of Myfords and a Bridgeport to support!
Impoverished (increasingly) of Wales
Reply to
jontom_1uk
I watched that too. They bought a 15,000ft high mountain in Peru which was almost all copper ore, and they reckoned that it would be mined down to ground level in 2 decades. Even with building towns and shipping in Chinese workers they reckoned that the cost would be $400/tonne as you said -against the current market price of $8000/tonne.
Peter
Reply to
Peter Neill
Peter hi again (and many thanks of course), I couldn't remember the current price but I thought at the time it was "quite" a mark up. I was also interested in the comment that almost all of it would go to internal development within China so I guess they are planning a little internal development??
The other point I was interested in was their complete lack of "social conscience" just look at how they are screwing those poor guys in Peru. I just wonder how long we can afford the very expensive "social conscience" that seems flavour of the day in our "developed world". Perhaps the Chinese will sell us a few cheap begging bowls in a decade or two but I won't hold my breath.
Cynical of Wales
Reply to
jontom_1uk
Can one say "Opium wars"?
Mark Rand RTFM
Reply to
Mark Rand
Peter hi again (and many thanks of course), I couldn't remember the current price but I thought at the time it was "quite" a mark up. I was also interested in the comment that almost all of it would go to internal development within China so I guess they are planning a little internal development??
The other point I was interested in was their complete lack of "social conscience" just look at how they are screwing those poor guys in Peru. I just wonder how long we can afford the very expensive "social conscience" that seems flavour of the day in our "developed world". Perhaps the Chinese will sell us a few cheap begging bowls in a decade or two but I won't hold my breath.
Cynical of Wales
Reply to
newshound
'Slightly jaded' I must remember that. The Newcastle lot are having a big 'do' for the Red Cross 'cos their dam has burst.
Norm
Reply to
ravensworth2674
I thought that was one's state after visiting gift shops in China...
Regards, Tony
Reply to
Tony Jeffree
You still at home Norman ? Thought you were going to Scotland. Up Newcastle on Friday.
John S.
Reply to
john

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