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:: Saturday, March 20, 2004 ::
Huge Quick and Volatile Price Hikes Stun Fabricators and Sting Industry By Tim Grogan with Paul Rosta, ENR
Rebar fabricators are in the same boat. For the past 30 years, reinforcing steel prices have been very steady, keeping in a plus or minus 10% bandwidth, says William Brack, CEO of Milford, Mass.-based fabricator Barker Steel Co. So he figured last spring’s $35-per-ton price increase was the firm’s hit for the year. "What happened after that, nobody was prepared for," he says.
What followed was another $50-per ton increase in the fourth quarter of last year. "At that point, people thought that was a record and we had a crisis on our hands," says Brack. But the real crisis was still coming with another price hike between January and the end of April that will total $170 per ton, if announced increases are included, he adds.------------------------------------------- posted 7:41 AM :: reference link ::
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